The widely-followed blockchain tracker, Whale Alert, known for monitoring substantial cryptocurrency transfers and sharing details on Twitter/X with the community, has disclosed that an Ethereum wallet dormant for nearly nine years has recently become active again.Inactive Ethereum
Inactive Ethereum whale reawakens, holding thousands of ETH.
The mentioned source has identified a pre-mined Ethereum address holding 11,640 ETH valued at $26,489,720 that has reactivated after 8.4 years, indicating its last usage in late 2014 following the completion of Ethereum’s initial coin offering fundraising.
Subsequently, the whale has initiated the transfer of 500 ETH to a newly generated wallet.
This transaction has ignited a lively debate within the cryptocurrency community. Various theories and explanations for the sudden reactivation of this whale, especially at this juncture, have been proposed, with many participants offering sarcastic comments or speculating it might be indicative of “paper hands.”
In the last month, numerous inactive Ethereum wallets experienced a resurgence after being dormant for an extended period, liquidating substantial quantities of ETH. In early December, Ethereum, the second most popular cryptocurrency, witnessed a remarkable 10% surge, reclaiming the $2,377 price threshold. This prompted many whales to initiate the sale of ETH holdings acquired during the Ethereum ICO.
By December 10, Ethereum underwent a correction, relinquishing the earlier 10% gain, but it later rebounded, achieving a 7.38% increase. As of the current moment, Ethereum is being traded at $2,285. Despite market fluctuations, the coin has managed to sustain levels above $2,200, occasionally dipping below but consistently maintaining a position above $2,000.
Arthur Hayes anticipates that Ethereum (ETH) will attain the $5,000 mark.
Reports indicate that BitMex founder and former CEO Arthur Hayes has recently divested his Solana (SOL) holdings and acquired an undisclosed quantity of Ethereum. Hayes expressed his expectation that Ethereum will surge to the $5,000 price threshold, although he did not specify a timeframe.
While Hayes has made a recent Ethereum purchase, an unidentified whale, as noted by Smart Money tracker @lookonchain in a tweet, achieved a staggering 433x profit through ETH trading, amassing approximately $1 million. This individual initially traded 1 ETH for 293.8 million OMNI, subsequently selling it for a gain of 176 ETH. Presently, the wallet holds 155 million OMNI, reflecting a significant profit of $1 million accrued within a single day.