🔕An Inactive Ethereum Wallet Awakens After 10 Years with Millions of Dollars in Ethereum

One of the events that raised interest, and perhaps concern, among Ethereum holders is the reactivation of a dormant 'whale' wallet holding millions of Ethereum. This sudden activity from an account that has been inactive for a long time raises questions about the potential for selling pressure and its impact on the market.

First Transaction from Inactive ETH Address Since 2015

The on-chain transaction tracking platform 'Whale Alerts' was the first to report the return of activity from a pre-mined Ethereum address, which had remained inactive for nearly a decade. According to the on-chain large transaction tracking platform, the wallet, which contained 2000 Ethereum, made its last transaction almost 9.9 years ago. When the wallet transferred any funds in 2015, the total value of the holdings was only $620. Today, the value of that same amount is estimated to be over $5 million, giving the owner a profit of approximately 820 times based on current prices. At Ethereum’s all-time high price of $4878 in 2021, the cryptocurrency would have seen unrealized gains of 1573 times.