The Ethereum Genesis Block related address launched the Meme coin PHIL, and its trading volume once rose to the top of Uniswap

PANews reported on August 29, according to The Block, based on data from blockchain data websites DEX Screener and Etherscan, a wallet connected to the Ethereum network's genesis block seems to have launched a Meme coin named "PHIL". After being listed around 20:15 Singapore time on August 28, its market value once exceeded $125 million. PHIL token is currently trading on the decentralized exchange Uniswap V2. As of press time, the trading price is about $0.06950, lower than the peak price of $0.10 reached about an hour after listing.

On DEX Screener, the owner wallet of this token was initially funded by an entity marked as Genesis 3316 days ago on July 30th, 2015 (the day Ethereum went live), when it injected 2000 ETH into this wallet. Since then, almost all Ethereum in this wallet (including 36.6 Ether) has been transferred into PHIL token liquidity pool and smaller Meme coins Azalea and Drip.

The maximum total supply of PHIL tokens is one billion while there are only over a thousand independent holders at present. Its top ten holders each purchased ten million tokens. One speculator who bought six point five million tokens made a profit of $172000 by selling approximately half his tokens and still has unrealized gains exceeding $300000 . According to data from DEX Screener , since its listing , PHIL 's trading volume has surged by eighty-six thousand percent , making it currently the most traded asset on Uniswap . Its current market value exceeds sixty-nine point five million dollars.