On Monday, two Ethereum wallets that had been inactive for almost ten years were reactivated, transferring a total of 1,140 Ether, valued at approximately $2.9 million. These wallets, identified by their addresses starting with '0x27' and '0x7f', were established 3,630 days ago, coinciding with the Ethereum blockchain's mainnet launch on July 30, 2015. Initially funded through 'GENESIS' transactions, these wallets highlight Ethereum's evolution from a proof-of-work to a proof-of-stake system after The Merge in September 2022, aimed at reducing energy consumption. Over the past decade, Ether's value has surged by 89,450%. Recently, there has been a trend of dormant wallets becoming active again, including three Bitcoin wallets that moved billions after 14 years of inactivity. Ethereum's latest upgrade, Pectra, initiated on May 7, has introduced smart accounts and improved scalability, contributing to an increase in ETH's price from $1,812 to $2,540. Additionally, co-founder Vitalik Buterin proposed a gas cap to enhance network performance. Read more AI-generated news on: https://app.chaingpt.org/news

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