The Ethereum network witnessed a notable event represented by the awakening of one of the oldest wallets after nearly a decade, achieving astronomical profits exceeding 816,000%.
According to 'Whale Alert' data, a wallet created before the mining process and belonging to the Genesis Block has been activated, containing 2000 Ethereum purchased in 2015 for just $620.
At the current market price, this balance is valued at more than $5 million.
The whale behind this wallet recently transferred 500 Ethereum, equivalent to $1.27 million, to another address, in its first move in nine years.
The transfer that took place 11 hours ago raised questions about its motives, whether it is a partial liquidation, a precautionary security step, or a prelude to upcoming investment moves.
Despite this sale, the wallet still holds 1500 Ethereum valued at around $3.78 million, at a time when the market is experiencing moderate fluctuations with a gradual recovery from its lows, while Ethereum is still trading far from its previous peak of $4,800.
The notable move of a whale that has remained silent since the founding stage reflects the changes that the currency has undergone and raises questions about its future intentions, especially in light of the market's attempt to break the current price consolidation pattern.
Similar moves are always considered to have a dual impact:
Financially and psychologically.
Especially when it comes from entities that have deep roots in the foundational structure of Ethereum.