#BinanceTurns8

Two dormant Ethereum wallets come back to life and transfer $2.9 million worth of ETH🤑🚀

On Monday, two dormant Ethereum wallets that had been inactive for nearly a decade were revived, transferring a total of 1,140 ETH, worth approximately $2.9 million.

The wallets, one starting with "0x27" and the other with "0x7f," were created 3,630 days ago, on July 30, 2015, the day the Ethereum mainnet was launched during a phase known as "Frontier" in the network's history. Both wallets received their ether through transactions labeled as "GENESIS" on Etherscan, indicating that they were funded at launch.

Ethereum developments include Pectra upgrade and gas cap

The latest Ethereum upgrades, known as "Pectra," introduced improvements such as smart calculations, increased scalability, and raising the staking limits within the system. The upgrade was implemented on May 7, and since then, the price of ETH has risen from $1,812 to $2,540, according to CoinMarketCap data.

Vitalik Buterin, along with researcher Tony Vahrshteter, also proposed a new suggestion on Sunday, which includes setting a gas cap of 16.77 million for each individual transaction.

According to the proposal, this change would improve the performance of the Ethereum network and enhance its security, noting that "implementing this cap will help the network resist certain denial-of-service (DoS) attack vectors and improve network stability.