In a significant move, a dormant Ethereum whale has moved 3,888 ETH to the Gemini exchange, valued at approximately $10.2 million. This notable transaction occurred roughly four hours ago, raising speculation about the potential selling of these assets.

History of Transfers

This crypto wallet gained notoriety around 1.6 years ago when it acquired 6,603 ETH from the Bitfinex exchange. During that time, the average price of ETH was about $1,785, totaling an investment of $11.78 million.

Impact on the Market

Following the recent transfer, the whale still holds 2,715 ETH, valued at around $7.12 million under current market conditions. As ETH prices have surged recently, the owner has realized profits totaling $5.54 million from past transactions.

Community Reaction

The whale’s activity is drawing attention among crypto enthusiasts and traders, especially as on-chain data analytics platforms like Nansen track such movements. Although it remains uncertain if the ETH moved to Gemini will be sold, many speculate that a sale may exert pressure on market prices, a trend that traders are keenly observing.

The activation of a long-dormant whale in the market draws interest from the crypto community. Whether the assets will be sold remains uncertain, but the potential impact on the market is already felt.