{"id":546094,"date":"2023-08-07T20:00:56","date_gmt":"2023-08-07T20:00:56","guid":{"rendered":"https:\/\/wncen.com\/?p=546094"},"modified":"2023-08-07T15:17:41","modified_gmt":"2023-08-07T15:17:41","slug":"ethereum-whale-4-5-million-burn","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-whale-4-5-million-burn\/","title":{"rendered":"Ethereum Whale $4.5 Million Burn Shocks ETH Community, What’s Going On?"},"content":{"rendered":"

The crypto space is never lacking of events – from hacks to memecoins frenzy, to traders realizing huge profits from trades. This time, it is the action of a particular Ethereum whale that has caught attention, one that has the ETH community in shock as to the reasons for such action.\u00a0<\/span><\/p>\n

The mysterious whale in question with the Ethereum address \u2018nd4.eth\u2019 <\/span>sent<\/span><\/a> $4.5 million worth of Ether (2,500 ETH) to a \u2018burn\u2019 address, in a move that removes these tokens from circulation forever. This interesting event, which occurred on July 26, has led to a burning question on the lips of everyone – who is this mysterious whale?<\/span><\/p>\n

Who Is The Mysterious Ethereum Whale?<\/h2>\n

Although there is currently limited information on the mysterious whale, Crypto Twitter has been able to dig up some information as to who this person might be. Recent Twitter<\/span> discussions<\/span><\/a> revealed that the user behind \u2018nd4.eth\u2019 was on Binance Leaderboard which shows the traders in profits on the platform.\u00a0<\/span><\/p>\n

Related Reading: Curve Finance Announces $1.85 Million Bounty For Stable Pool Exploiter<\/a><\/div>\n

Another Twitter user (@serialsexhaver) revealed that the trader had over $20 million in earnings on GMT long and \u201cwent all in on a btc short\u201d and then deleted his account.<\/span><\/p>\n

The Tweet <\/span>read<\/span><\/a>:<\/span><\/p>\n

Last year he was on Binance leaderboard, made north on 20mill on gmt long, was giving away anons gmt sneakers and went all in on a btc short …then deleted his account<\/span><\/p><\/blockquote>\n

This is also not the first time this particular user is doing something like this. According to <\/span>information<\/span><\/a> gotten from Web3 portfolio tracker DeBank, the \u201cnd4.eth\u2019 address had previously sent Wrapped Ethereum (WETH) to another burn address many times, with these transactions amounting to approximately $8,000 in total. The address still has a huge portfolio though, with close to $3.57 million staked on GMX and GNS.<\/span><\/p>\n

\"Ethereum<\/p>\n

ETH price plunges to $1,823 | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
Contributing To The Growth Of ETH<\/h2>\n
While the crypto community continues to speculate the reasons for the \u2018$4.5 million burn,\u2019 there is no doubt that the \u2018nd4.eth\u2019 address has, for whatever reason, contributed to the growth of the Ethereum ecosystems.\u00a0<\/span><\/p>\n
His actions also further fuel the Ethereum as an \u2018ultra-sound money\u2019 narrative. Laurence Day, the creator of the Wildcat Protocol, jokingly commended the individual when he stated:<\/span><\/p>\n
\u201cIf you didn\u2019t wake up this morning and say thank you to nd4.eth for contributing to the ultrasound money narrative, I want you to have a long, hard think about what you\u2019re trying to achieve here.\u201d<\/span><\/p>\n
Related Reading: Crypto Funds Vs Bitcoin Holders: Who Was The Better Performer In H1 2023<\/a><\/div>\n
True to it, the burning of tokens makes it deflationary and is usually done to decrease the token\u2019s circulating supply and help boost demand and increase its market value. Ethereum isn\u2019t the only ecosystem that the said individual is contributing to.\u00a0<\/span><\/p>\n
According to a <\/span>tweet<\/span><\/a> from Lookonchain, the user \u201cspent 5,330 $DAI to buy $GMX and $GNS on July 29 and also transferred 34.9 GMX ($1,989) and 600 GNX ($2,733) to the dead address.\u201d<\/span><\/p>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The crypto space is never lacking of events – from hacks to memecoins frenzy, to traders realizing huge profits from trades. This time, it is the action of a particular Ethereum whale that has caught attention, one that has the ETH community in shock as to the reasons for such action.\u00a0 The mysterious whale in question with the Ethereum address \u2018nd4.eth\u2019 sent $4.5 million worth of Ether (2,500 ETH) to a \u2018burn\u2019 address, in a move that removes these tokens from circulation forever. This interesting event, which occurred on July 26, has led to a burning question on the lips of everyone – who is this mysterious whale? Who Is The Mysterious Ethereum Whale? Although there is currently limited information on the mysterious whale, Crypto Twitter has been able to dig up some information as to who this person might be. Recent Twitter discussions revealed that the user behind \u2018nd4.eth\u2019 was on Binance Leaderboard which shows the traders in profits on the platform.\u00a0 Related Reading: Curve Finance Announces $1.85 Million Bounty For Stable Pool Exploiter Another Twitter user (@serialsexhaver) revealed that the trader had over $20 million in earnings on GMT long and \u201cwent all in on a btc short\u201d and then deleted his account. The Tweet read: Last year he was on Binance leaderboard, made north on 20mill on gmt long, was giving away anons gmt sneakers and went all in on a btc short …then deleted his account This is also not the first time this particular user is doing something like this. According to information gotten from Web3 portfolio tracker DeBank, the \u201cnd4.eth\u2019 address had previously sent Wrapped Ethereum (WETH) to another burn address many times, with these transactions amounting to approximately $8,000 in total. The address still has a huge portfolio though, with close to $3.57 million staked on GMX and GNS. ETH price plunges to $1,823 | Source: ETHUSD on Tradingview.com Contributing To The Growth Of ETH While the crypto community continues to speculate the reasons for the \u2018$4.5 million burn,\u2019 there is no doubt that the \u2018nd4.eth\u2019 address has, for whatever reason, contributed to the growth of the Ethereum ecosystems.\u00a0 His actions also further fuel the Ethereum as an \u2018ultra-sound money\u2019 narrative. Laurence Day, the creator of the Wildcat Protocol, jokingly commended the individual when he stated: \u201cIf you didn\u2019t wake up this morning and say thank you to nd4.eth for contributing to the ultrasound money narrative, I want you to have a long, hard think about what you\u2019re trying to achieve here.\u201d Related Reading: Crypto Funds Vs Bitcoin Holders: Who Was The Better Performer In H1 2023 True to it, the burning of tokens makes it deflationary and is usually done to decrease the token\u2019s circulating supply and help boost demand and increase its market value. Ethereum isn\u2019t the only ecosystem that the said individual is contributing to.\u00a0 According to a tweet from Lookonchain, the user \u201cspent 5,330 $DAI to buy $GMX and $GNS on July 29 and also transferred 34.9 GMX ($1,989) and 600 GNX ($2,733) to the dead address.\u201d Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":546096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,84011,89052,1946,85569,8686,14896],"class_list":["post-546094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-burn","tag-eth-whale","tag-ethereum","tag-ethereum-whale","tag-ethusd","tag-whale"],"acf":[],"yoast_head":"\nEthereum Whale $4.5 Million Burn Shocks ETH Community, What's Going 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Whale $4.5 Million Burn Shocks ETH Community, What’s Going On?","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-whale-4-5-million-burn\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-whale-4-5-million-burn\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1360442132.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1360442132.jpg?fit=2109%2C1422"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth burn","eth whale","ethereum","ethereum whale","ethusd","whale"],"dateCreated":"2023-08-07T20:00:56Z","datePublished":"2023-08-07T20:00:56Z","dateModified":"2023-08-07T20:00:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Whale $4.5 Million Burn Shocks ETH Community, What’s Going On?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-whale-4-5-million-burn\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-whale-4-5-million-burn\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1360442132.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1360442132.jpg?fit=2109%2C1422\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth burn\",\"eth whale\",\"ethereum\",\"ethereum whale\",\"ethusd\",\"whale\"],\"dateCreated\":\"2023-08-07T20:00:56Z\",\"datePublished\":\"2023-08-07T20:00:56Z\",\"dateModified\":\"2023-08-07T20:00:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1360442132.jpg?fit=2109%2C1422","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/546094"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=546094"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/546094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/546096"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=546094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=546094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=546094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}