An Ethereum ETH/USD address tweeted by a crypto influencer has received over $1.1 million worth of cryptocurrencies in under 24 hours — and for what, absolutely nothing.
What Happened: In a tweet, on-chain exchange Arkham Intelligence said crypto influencer Paul wrote on Tuesday that anyone who sends ETH to the address will receive absolutely nothing in exchange.
However, in a plot twist crypto enthusiasts have been flooding the address with transfers.
As of this writing, the address has received over 1000 transfers, with the largest known wallet coming in at around $13,000 worth of ETH from “Maverick_time” on OpenSea.
Why It Matters: It is unclear what motivated people to send money to this address, but some speculate that it may be a simple case of people following the crowd and wanting to be part of a seemingly exclusive or viral trend. Meanwhile, others believe that some transfers may have been made as a joke or in homage to the original tweet.
Price Action: At the time of writing, ETH was trading at $1,854, down 2.23% in the last 24 hours, according to Benzinga Pro.