On July 26, an unknown nd4.eth user sent 2,500 ETH (about $4.58 million at the time of writing) to a token burn address, according to Etherscan. All coins were destroyed beyond recovery.
After that, nd4.eth sent another 1.5 ETH, 34.9 GMX and 600 GNS to the same address. Previously, he had already made transactions with burning WETH in the amount of $ 8,000, but with a different address. According to the service Debankthe wallet still owns $3.57 million worth of cryptocurrency.
Analysts from Lookonchain clarifiedthat this user is a major holder of perpetual trading protocol tokens. In particular, we are talking about 34,287 GMX and 311,003 GNS.
The user’s actions caused a wave of discussion in the crypto community. Wildcat protocol creator Lawrence Day allowedthat the whale burned the ETH cryptocurrency to support the reduction in the supply of coins.
Recently, one of the participants in the Ethereum ICO showed activity after 8 years of inactivity. He transferred 641 ETH worth about $1.2 million.
Source: Cryptocurrency
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