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An individual operating under ENS name nd4.eth, sent 2,500 ETH, equivalent to $4.5 million, to a burn address. The act, which took place on July 26, has since drawn significant attention, leading to the Ethereum community questioning their motives.

Cryptocurrency insiders are familiar with the concept of “burning” — the practice of permanently removing tokens from circulation by sending them to an address from which they can’t be spent. Such actions are usually deliberate, meant to reduce the overall supply of a particular token. The intent behind this particular move, however, remains uncertain.

Laurence Day, the creator of the Wildcat Protocol, responded to the incident with humor, tweeting, “If you didn’t 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’re trying to achieve here.”

Another commenter further joked about how strange this transaction was, tweeting:

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CryptoBriefing

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