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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Zcash's Impressive Market Performance and ETF Launch

chest

Zcash has experienced a remarkable price increase, gaining over 2,300% in the past year, aided by the launch of Grayscale's Zcash ETF.

user avatarLucas Weissmann

Zcash Surpasses $1,000 Mark, Achieving New All-Time High

chest

Zcash's price broke above $1,000 for the first time in nearly a decade, marking a significant milestone in its market performance.

user avatarRajesh Kumar

Trezor Implements New Security Measures After Data Breach

chest

Trezor is enhancing security measures, including anonymous delivery options, in response to a data breach affecting 67,000 customers.

user avatarFilippo Romano

Data Breach Affects 67,000 Trezor Customers

chest

A data breach at shipping provider ShipMonk has exposed personal information of 67,000 Trezor customers in the US.

user avatarEmily Carter

BAI Establishes Global Settlement Layer for AI Agents to Enhance Collaboration

chest

BAI is building a global settlement layer to enhance collaboration and efficiency among AI agents across various workflows.

user avatarTomas Novak

BAI Launches Free Access to Premium AI Models, Surpassing 133 Trillion Daily Tokens

chest

BAI has launched free access to its premium AI models, leading to a significant increase in platform activity and user adoption.

user avatarKaterina Papadopoulou

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.