Ethereum (ETH) Whale Resurfaces After 8.8 Years: Unveiling the Massive Crypto Holdings

• Whale Alert, a prominent cryptocurrency tracker, has reported the awakening of a dormant Ethereum wallet, which contains nearly 2,000 ETH worth $5,876,786.
• This comes after the Ethereum Foundation reactivated an ancient wallet, transferring 2,000 ETH valued at approximately $6.5 million to a new blockchain address.
• Meanwhile, Ethereum’s overall whale activity has seen a significant increase, with approximately 139,560 new ETH wallets created in a single day.

Discover the recent surge in Ethereum whale activity and the reactivation of dormant wallets, as well as the impact these movements could have on the Ethereum market.

Ethereum Foundation Reactivates ICO ETH

The Ethereum Foundation has reactivated an ancient wallet that has been dormant for nine years. This wallet, which received funds during the Ethereum initial coin offering (ICO), transferred a substantial 2,000 ETH, valued at approximately $6.5 million, to a new blockchain address. In the past, the market has reacted negatively to the Ethereum Foundation releasing large amounts of Ethereum. This recent transaction is not the only significant movement from the Foundation observed this week, as another wallet linked to the Foundation sold 100 ETH for 291,267 DAI via the Cow Protocol.

Surge in Ethereum Whale Activity

Following the reactivation of the Ethereum Foundation’s wallet, a dormant pre-mined wallet containing 1,969 ETH, worth $5,876,786, was also awakened. This wallet had been dormant since 2015, the year following the end of the Ethereum ICO. This awaken... Read the full article for FREE at COINOTAG!