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

FINMA Approves First Swiss Retail Bitcoin ETF

Switzerland's financial regulator, FINMA, has approved its first retail ETF that invests directly in Bitcoin, allowing retail investors to gain regulated exposure to Bitcoin.

user avatarMaria Gutierrez

EIP7906 Proposal Considered for Enhancing Ethereum Transaction Safety

The Ethereum Foundation is considering EIP7906, which proposes a readonly post-transaction frame to evaluate changes and events before accepting transaction outcomes.

user avatarDavid Robinson

Ethereum Foundation Investigates Enhancements to Transaction Safety

Researchers at the Ethereum Foundation are examining native transaction assertions to enhance transaction safety and reliability in digital asset markets.

user avatarAndrew Smith

Ethereum Developers Delay Glamsterdam Upgrade on Hoodi Testnet

Ethereum developers have postponed the Glamsterdam upgrade initially scheduled for the Hoodi testnet on October 26, with no new activation date provided.

user avatarJacob Williams

Samsung and Solana to Enable Cross-Border USDC Transfers in Samsung Wallet

Samsung and Solana announced plans to integrate cross-border USDC transfers into Samsung Wallet, targeting 82 million US Galaxy devices.

user avatarZainab Kamara

More Americans Have Tried Crypto Than Last Year, But Usage Remains Flat

A recent survey shows that 22% of Americans have tried cryptocurrency, up from 18% last year, but active usage remains flat at 13%. Curiosity drives interest in crypto.

user avatarSon Min-ho

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.