The cryptocurrency community has recently responded to an unusual request on social media in an unexpected way.
After an influencer, Pauly0x, tweeted out his Ethereum ($ETH) wallet address with a promise to followers that they would receive “absolutely nothing” in exchange for sending him ETH, he received over $1 million worth of the cryptocurrency.
According to data from Arkham Intelligence, the funds came in less than 24 hours after the unconventional appeal to the community was made. The campaign was marked by over 1,000 individual transfers, the largest of which came from a wallet known as “Maverick_time” on OpenSea, contributing $13,000 alone to the influencer’s fund. Yesterday, on twitter user @Pauly0x tweeted an ETH address telling people they'd receive absolutely nothing in exchange for sending him ETH.
In under 24 hours, people have sent over $1.1 million USD.
Intriguingly, amidst the influx of substantial amounts of ETH, there has been only one outgoing transaction from this wallet to date. This was used to purchase the Ethereum Name Service (ENS) domain “yougetnothing.eth,” extending the jest and offering a tongue-in-cheek commentary on the nature of the influencer’s fundraising efforts
This incident highlights the unique and unpredictable nature of the crypto and online community. Not only does it underscore the community’s generosity, but it also demonstrates a peculiar sense of humor and camaraderie that seems to transcend traditional financial norms.
As CryptoGlobe reported global asset manager VanEck has recently published a valuation model for Ethereum, the world’s second-largest cryptocurrency by market capitalization, predicting a potential price rise to $11.800 by 2030.
This prediction comes in light of Ethereum’s recent hard fork, which allows users to withdraw staked ETH, which they believe could rival US T-bills. Ethereum’s network revenues are projected to increase from an annual rate of $2.6 billion to $51 billion in 2030, assuming it captures 70% of the market among smart contract protocols, which implies the $11,800 price by 2030.