Ethereum Whale Becomes Active After Three Years of Silence

user avatar

by Giorgi Kostiuk

2 years ago


An Ethereum whale recently activated their wallet, which had been dormant for three years, by moving a substantial amount of ETH to Coinbase.

Whale Receives ETH for $1,851

The whale wallet, which participated in Ethereum’s initial coin offering (ICO), originally received 6,292 ETH for an investment of just $1,951. At current market prices, their remaining holdings are valued at approximately $20.15 million. This movement follows a trend of long-dormant Ethereum whales becoming active.

ETH Price Surges 30% in One Week

The transfer coincides with major price action in Ethereum’s market. ETH has surged almost 30% over the past seven days. ETH’s price has ranged from $3,089.74 to $3,241.97 in the last 24 hours, while the weekly range expanded from $2,373.63 to $3,240.29.

Ethereum Market and Whale Activity

Additionally, on November 7, another major holder activated their wallet with 12,001 ETH (worth $34.1 million) after 8.75 years of dormancy. Despite the substantial transfers, Ethereum’s price remains strong, though still 34.6% below its all-time high of $4,878.26 set in November 2021.

The reemergence of these long-term ICO wallets provides a unique glimpse into the wealth creation enabled by early cryptocurrency investments. The movement of such large amounts may potentially signal incoming selling pressure or strategic portfolio rebalancing.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.