Moreover, he contemplated the possibility that had he invested in Ethereum early on, he might not have been motivated or felt the need to establish Binance, given the potential gains from investing in the cryptocurrency.
Founders of Avalanche and Solana, also joined in and wished the cryptocurrency network a happy birthday onIn the past year, the Ethereum network underwent two significant updates. Among these updates, the implementation of the Merge on September 15, 2022, stands out as one of the most pivotal moments.
With the successful execution of the Merge upgrade, the network made a crucial transition from a proof-of-work to a proof-of-stake consensus mechanism. This transition resulted in a reduction in energy consumption, addressing concerns about environmental impact, and also introduced staking incentives for validators and investors.
The other update was the Shapella upgrade which occurred on 12 April, 2023. This allowed users to unlock their staked ETH from the beacon chain. Following this upgrade, the interest in staking skyrocketed. Even though the interest in staking slowly faded after the fact, an old Ethereum holder’s behavior could soon re-ignite the staking flame.
During Ethereum’s 8th Birthday celebration, an individual who participated in the Ethereum ICO reappeared after 8 years of inactivity. Astonishingly, the participant transferred 641 ETH from his dormant account and promptly engaged in staking.At the time of the Ethereum Genesis, this participant had obtained 2,000 ETH, which now amounts to $3.7 million. It was noteworthy that the initial price of ETH during the ICO was just around $0.31.
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Source: CryptoAmb - 🏆 22. / 68 Read more »