In an unexpected turn of events, an ancient Ethereum whale came back to life after 8.1 years of dormancy; this goes back to 2014, the year when, in July, the initial coin offering (ICO) of Ethereum began and made history.
Later on, the Ethereum chain became a launch platform for the next generation of blockchains, such as EOS, TRON and many others. The largest crypto exchange Binance also launched its native token on Ethereum, later moving it to its own Binance Smart Chain (rebranded as BNB Chain later on).
According to a recent X post by the Whale Alert cryptocurrency tracker, roughly two hours ago, the aforementioned awakened wallet transferred 185 ETH worth $302,096 to the U.S.-based Kraken exchange.
💤 A dormant pre-mine address containing 185 #ETH (302,096 USD) has just been activated after 8.1 years!https://t.co/2IdjJcxPbG
— Whale Alert (@whale_alert) September 7, 2023
Later on, a much bigger amount of Ethereum — 50,000 coins — was sent to Kraken with the apparent goal of selling it. The amount of 50,000 ETH is the equivalent of 81,638,671. However, it was transferred from a different wallet than the above-mentioned dormant one.
About three weeks ago, another dormant Ethereum whale (a premine one) awakened and transferred 191 ETH evaluated at $317,724 to an anonymous wallet.
Over the past few years, several dormant wallets containing large and small chunks of Ethereum and Bitcoin have been reactivated. Many users in the comments suggest that these old-time crypto owners may have just found their lost private keys to those wallets, which in many cases may be true.
Anon whale keeps buying Ethereum on dip
As reported by U.Today earlier, an anonymous «smart whale» conducted two large ETH withdrawals from the Binance exchange. Each time, he moved slightly under 10,000 ETH from the platform, making it 19,508 ETH in total.
He performed that he purchased on the dip, while Ethereum is changing hands in the $1,600 zone. Earlier this year, on July 1, the same wallet bought 8,188 ETH when the price briefly plunged as the SEC rejected several Bitcoin spot ETF filings, including one made by BlackRock, calling them «inadequate.»