The cryptocurrency industry is abuzz with speculation when an ancient Ethereum wallet that had been dormant for over nine years suddenly surfaced, according to the data tracker Whale Alert.
Whale Alert has learned that “A dormant pre-mine address containing 197 ETH worth $622,685 has just been activated after 8.7 years.”
The narrative of this Ethereum holder starts in the pre-mine phase, which preceded the network’s formal debut in 2015. By this time, the price of ETH was about $0.31, meaning that the hoard was only worth $61. In the present, the ETH stash’s value has risen dramatically to almost $622,685.
The ETH address came back to life after 8.7 years of inactivity, sparking rumours about its owner’s identity and goals.
https://x.com/whale_alert/status/1781860400578875879
It is possible that the owner has found the misplaced keys again; however, the reactivation time may suggest a calculated choice to “hodl” up to this point. The wallet’s quick reactivation and the identity of the early adopter remain unclear, and the secrecy of the ETH address only serves to heighten the intrigue.
This raises a lot of inquiries. What had kept it inactive for so long? Why had it suddenly woken up? Was it an indication of future market moves, or was it just a person acting on their own initiative?
These issues remain unanswered, suggesting that there may yet be more to learn about the enigma of the inactive ETH address. Its abrupt waking, nevertheless, may serve as a warning that anything unexpected might happen at any time.
As of this writing, ETH has increased 3.66% to $3,175 during the previous day. On-chain sources reveal that a massive whale withdrew 10,119 ETH worth $31.83 million from Binance when Ethereum recovered above $3,000 in value. Withdrawals indicate a desire to purchase, whereas deposits show otherwise.
Since April 8th, this Ethereum whale has purchased 127,388 ETH from DEX and Binance for a total of $405.19 million, averaging about $3,172 per purchase.
