Dormant Ethereum Whales Move $2.9M in ETH After Nearly a Decade

Two long-dormant Ethereum wallets have come to life after nearly ten years of inactivity. The wallets, labeled “0x27” and “0x7f,” moved a combined 1,140 ETH, currently valued at around $2.9 million.

These addresses have remained untouched since Ethereum’s launch on July 30, 2015. They were inactive for 3,630 days before the recent transactions.

Dormant Addresses Reawaken

Blockchain tracker Whale Alert noted that one of the wallets sent 900 ETH. Back in 2015, that amount was worth just $279.

The other wallet transferred 240 ETH. The movement marks the first known activity from these addresses since Ethereum’s genesis block.

Notably, the reactivation of dormant wallets has become more common across the crypto space. Just last week, two dormant Bitcoin wallets moved billions after being idle for over 14 years.

Other Bitcoin wallets from the Satoshi era also showed activity earlier this year. Remarkably, some of those transfers involved coins worth up to $325 million.

Seized ETH on the Move

In a separate development, a U.S. government-controlled Ethereum address also made a notable transfer. The wallet moved 86.56 ETH, valued at about $200,000, to Coinbase Prime.

The ETH was previously seized from Chase Senecal in connection with hacking and NFT-related fraud. Blockchain analytics platform Arkham Intelligence stated that the government wallet initially sent a test transaction before transferring the full amount.

Despite this movement and other recent activity from long-dormant wallets, ETH’s market price has remained relatively stable. At the time of writing, Ethereum is trading near $2,542.

Over the longer term, ETH has shown remarkable appreciation. Data from TradingView indicates the asset has risen by over 89,000% since 2015.

Institutions Boost ETH Holdings

Meanwhile, institutional interest in Ethereum appears to be growing. For instance, Bit Digital, a Nasdaq-listed company, raised its ETH holdings to 100,603 tokens, a 300% jump from the 24,434 ETH it held at the end of Q1 2025. The company funded this move using proceeds from a $172 million offering and by selling 280 BTC.

Bit Digital shifted its focus from Bitcoin to Ethereum in June. CEO Sam Tabar said the firm aims to become the largest public holder of ETH.

The ETH accumulation trend isn’t limited to Bit Digital. Other firms, including SharpLink Gaming and BitMine, are also expanding their exposure to Ethereum. BitMine, in particular, is reportedly planning a $250 million offering to support its ETH-focused strategy.

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