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A dormant Ethereum wallet springs to life after 8.5 years, unearthing 200 ETH worth over $500,000.
A previously inactive Ethereum wallet holding a substantial amount of ETH has suddenly become active.
💤 A dormant pre-mine address containing 200 #ETH (506,140 USD) has just been activated after 8.5 years!https://t.co/NtW3dDb2So
— Whale Alert (@whale_alert) January 14, 2024
According to Whale Alert, a service that tracks large cryptocurrency transactions, this pre-mine Ethereum address, containing 200 ETH (equivalent to $506,140), has shown activity after lying dormant for over eight and a half years.
Other Recent Transfers
Often, the activation of long-dormant cryptocurrency addresses stirs speculation and interest within the crypto industry.
Such movements are typically linked to early adopters or investors who had mined or purchased cryptocurrencies like Ethereum during their initial phases.
The recent activation of this address is not an isolated incident. In December 2023, a similar pre-mine address with 11,640 ETH resumed activity after 8.4 years.
See Also: TD Cowen Revealed That The SEC Will Not Approve An Ethereum ETF Soon
Earlier, in October and September of the same year, addresses containing 2,000 ETH and 200 ETH respectively, were reactivated after over eight years of inactivity.
These instances suggest a pattern where early investors or holders, potentially re-evaluating their investments or deciding to cash in on their holdings, trigger such movements.
The Ethereum price performance The activation of these dormant addresses comes at a time when Ethereum’s market performance remains volatile.
As of the latest data, Ethereum (ETH) is priced at $2,515.28, witnessing a minor increase of 1.2% after a significant price drop.
Despite minor fluctuations, Ethereum maintains a significant market capitalization of approximately $301.7 billion, with a 24-hour trading volume of around $17.9 billion.
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