Inactive Ethereum Whale Moves $3.5M to ETH
Date: 2024-12-30 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
The crypto whale, who has owned Ether since the Ethereum ICO, has made a series of transactions for the first time in nine years. According to Lookonchain analysts, the owner transferred 0.01 ETH (about $33.94 at the current rate of $3,394 per coin) to an unknown address. This was followed by the transfer of 1,042.22 ETH worth $3.53 million to several other crypto wallets. At the same time, 897.77 ETH, valued at about $3.04 million, remained at the original address.
This address has remained inactive since receiving 1,940 ETH during the Ethereum initial coin offering. According to Lookonchain, these tokens were worth only $601 in 2015, but their current estimated value reaches $6.56 million. Such a sharp increase in value and the unexpected “awakening” of the wallet made analysts speculate that the owner could have regained access by finding a lost private key.
The movement of old ethers is not an isolated case. On December 25, another crypto whale transferred 4,160 ETH worth $14.5 million to the Kraken exchange. This wallet was also created during the Ethereum ICO, when its owner received 20,000 ETH. Since September 2024, this address has already moved more than 5,000 ETH, choosing moments of local price peaks.
The activity of long-term cryptocurrency holders has been observed in other cases as well. In July, 1,000 bitcoins were transferred from an address that had been inactive for almost 12 years. These events indicate that previously shadowy owners of large crypto assets are beginning to return to managing their funds, which may be due to current market conditions or the restoration of access to old wallets.
