- A user named nd4.eth sent 2,500 ETH to a token burning address, according to Etherscan.
- The wallet owner still owns $3.57 million in cryptocurrency.
On July 26, an unknown user named nd4.eth sent 2,500 ETH (about $4.58 million at the time of writing) to a token burning address, according to Etherscan data. All coins were destroyed with no possibility of recovery.
After that, nd4.eth sent another 1.5 ETH, 34.9 GMX and 600 GNS to the same address. He had previously made $8,000 worth of WETH burning transactions, but with a different address. According to the Debank service, the wallet still holds $3.57 million in cryptocurrency.
Analysts at Lookonchain clarified that this user is a large holder of perpetual trading protocol tokens. Specifically, it involves 34,287 GMX and 311,003 GNS.
The user’s actions have sparked a wave of discussion in the crypto community. Wildcat Protocol creator Lawrence Day has admitted that the whale burned the ETH cryptocurrency to support a reduction in coin supply.
“If you don’t wake up this morning and thank nd4.eth for its contribution to reducing issuance, think hard again,” Lawrence Day wrote in X (formerly Twitter).
Not long ago, an Ethereum ICO participant became active after 8 years of inactivity. He transferred 641 ETH worth about $1.2 million.
He transferred 641 ETH worth about $1.2 million.