Dormant Ethereum Whale Awakens with Millions in ETH After 9 Years

Popular blockchain sleuth Whale Alert has reported that approximately two hours ago, an ancient premine Ethereum wallet came back to life after almost 10 years of staying dormant.

This blockchain address contains more than $5 million worth of Ethereum.

Dormant ETH wallet kicked back to life

The aforementioned cryptocurrency wallet was reactivated after 9.1 years (the last time it was used in 2014, the year of the Ethereum ICO), and it is full of ETH – 2,000 coins currently worth an impressive $5,476,804. Back in 2014, this amount of Ethereum was evaluated at $620, as ETH was worth $0.31.

Currently, the second biggest cryptocurrency by market capitalization size, Ethereum, is changing hands at $2,743, after showing a decline of 2.6% over the last 24 hours. This decline followed a large price increase, when Ethereum went up by almost 10% over the last week, surging from the $2,570 zone to a local high of $2,815.

Whale Alert spotted several other massive ETH transfers as well today, even though they were made by regular “not sleeping” whales. Thus, 29,999 ETH were transferred to the world’s largest cryptocurrency exchange, Binance. Two Ethereum chunks more or less similar in size were deposited to the biggest U.S.-based exchange, Coinbase: 12,573 ETH each. Still, due to market volatility, one of them was worth $34,606,448 and the other one was valued at $35,014,241.

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Dormant Bitcoin whales reactivated en masse

Whale Alert also spread the word that over the weekend, two dormant Bitcoin wallets were also reactivated after a long term of dormancy – one had been inactive for 11 years, and the other one had not been used for 13.6 years.

They contained 25 BTC and 64 BTC worth $1,597,432 and $4,147,400. Last week, several ancient Bitcoin addresses were also kicked back to life by their owners, who either decided to start selling their BTC unmoved for more than a decade or were simply finally able to get hold of their private keys, believed to be lost until now.

The world’s flagship cryptocurrency, Bitcoin, is changing hands at $63,973. On Friday, Bitcoin surged by 6.1% after Fed boss Jerome Powell announced that the Federal Reserve intends to begin reducing the interest rate in the near future. This allowed Bitcoin to skyrocket from $60,720 to $64,470. Ethereum and the rest of the cryptocurrency market followed suit.