According to the Whale Alert service, 492 ETH worth about $1.1 million were transferred from a dormant Ethereum address that had been inactive for 8.5 years. This caused discussions in the cryptocurrency community.
According to Whale Alert, the coins have been stored at this address since July 30, 2015, after the launch of the Ethereum network. A few years later, on February 2, 2024, a user made a test transaction of 0.5 ETH and then transferred 98 ETH, redirecting the funds back to the same address.
The unexpected “awakening” of the address forced crypto enthusiasts to think about the motives for this sudden step. Some users suggested that the owner of the wallet had found a lost or forgotten seed phrase. Others believe that a long-term holder of ether decided to sell his assets to make a profit. Still others believe the address’s “resurrection” is due to the upcoming Dencun update, as well as expectations that a spot Ether ETF will be approved in the US. These factors could become important catalysts for the growth of the second cryptocurrency.
This is not an isolated case of this kind. On January 22, the Whale Alert service reported that another dormant address was activated after eight and a half years, and 133 ETH worth $329,492 were transferred from it. A few days earlier, on January 14, another address “moved”, where after the same During the hibernation period, 200 ETH were moved to $506,140.
Last year, a large ether holder, a so-called “whale,” moved 8,000 ETH from an address that had been dormant for about eight years. In July, the dormant cryptocurrency whale transferred 61,216 ETH from an inactive address for the same amount of time.
