Tomiwavoldo Olajide
Dormant Ethereum wallet revives, sparking speculation in the crypto community
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According to crypto data tracker Whale Alert, an ancient Ethereum wallet that has been inactive for nearly nine years has awakened, sparking intrigue and speculation in the crypto community.
whale alert report: “A dormant premine address containing 197 ETH worth $622,685 was activated after 8.7 years.”
This story of Ethereum ownership begins in the early days of Ethereum, during the pre-mining phase before the network's official launch in 2015. At this point, ETH was trading around $0.31, so the ETH stash was worth just $61. Fast forward to today, the value of ETH Stash has skyrocketed to around $622,685.
After lying dormant for 8.7 years, the ETH address has come back to life, sparking speculation about the owner's identity and intentions.
The owner may have rediscovered the lost key. The timing of reactivation may also indicate a strategic decision to “hold off” until now. The anonymity of ETH addresses adds to the mystery, with no clear indication as to who the early adopters of ETH were or what prompted the wallet's sudden reactivation.
This raises a series of questions. Why did it remain dormant for so long? What caused that sudden awakening? Was it a signal of an impending market move, or was it simply an individual or entity taking action for personal reasons?
These questions remain unanswered, suggesting that the mystery surrounding dormant ETH addresses may not be fully resolved at this time. But that sudden awakening may be a reminder that the unexpected is always just around the corner.
At the time of writing, ETH was up 3.66% in the past 24 hours to $3,175. As Ethereum recovers the $3,000 price mark, On-chain According to sources, the giant whale withdrew 10,119 ETH worth $31.83 million from Binance. Withdrawals indicate purchase intent, while deposits indicate otherwise.
The Ethereum whale has purchased 127,388 ETH worth $405.19 million from DEX and Binance since April 8, with an average purchase price of almost $3,172.
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Tomiwavoldo Olajide
