Dormant Ethereum Whale Awakens with Millions in ETH After 9 Years

Popular blockchain sleuth Whale Alert has reported that approximately two hours ago an ancient pre-mine Ethereum wallet came back to life after almost 10 years of staying dormant.

This blockchain address contains more than $5 million worth of Ethereum.

Dormant ETH wallet kicked back to life

The aforementioned cryptocurrency wallet was reactivated after 9.1 years (last time it was used in 2014, the year of Ethereum ICO) and it is full of ETH – 2,000 coins currently worth an impressive $5,476,804. Back in 2014, this amount of Ethereum was evaluated at $620 as ETH was worth $0.31.

💤 A dormant pre-mine address containing 2,000 #ETH (5,476,804 USD) has just been activated after 9.1 years!https://t.co/iD9k61CCzU

— Whale Alert (@whale_alert) August 26, 2024

Currently, the second biggest cryptocurrency by its market capitalization size, Ethereum, is changing hands at $2,743 after showing a decline of 2.6% during the last 24 hours. This decline followed a large price increase when Ethereum went up by almost 10% over the last week, surging from the $2,570 zone to a local high of $2,815.

Whale Alert spotted several other massive ETH transfers too today, even though they were made by regular “not sleeping” whales. Thus, 29,999 ETH were transferred to the world’s largest cryptocurrency exchange Binance. Two Ethereum chunks more or less similar in size were deposited to the biggest US-based exchange Coinbase: 12,573 ETH each. Still, due to the market volatility one of them was worth $34,606,448 and the other one was valued at $35,014,241.

Dormant Bitcoin whales reactivated en masse

Whale Alert also spread the word that over the weekend, two dormant Bitcoin wallets were also reactivated after a long term of dormancy – one had stayed inactive for 11 years and the other one had not been used for 13.6 years.

💤 A dormant address containing 64 #BTC (4,147,400 USD) has just been activated after 13.6 years!https://t.co/bjdDIkJmeC

— Whale Alert (@whale_alert) August 25, 2024

They contained 25 BTC and 64 BTC worth $1,597,432 and $4,147,400. Last week, several ancient Bitcoin addresses also were kicked back to life by their owners who either decided to start selling their BTC unmoved for more than a decade or simply were finally able to get hold of their private keys believed to be lost until now.

💤 A dormant address containing 25 #BTC (1,597,432 USD) has just been activated after 11.0 years (worth 3,195 USD in 2013)!https://t.co/DlmCuXteG8

— Whale Alert (@whale_alert) August 25, 2024

The world’s flagship cryptocurrency, Bitcoin, is changing hands at $63,973. On Friday, Bitcoin surged by 6.1% after the Fed boss Jerome Powell announced that the Fed Reserve intends to begin reducing the interest rate in the near future. This allowed Bitcoin to skyrocket from $60,720 to $64,470. Ethereum and the rest of the cryptocurrency market followed suit.

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