Cryptocurrency market is booming Ethereum (ETH) price It rose 3.66% in the past 24 hours to reach $3,175. The surge coincides with the reactivation of ancient Ethereum wallets that have been dormant for nearly 8.7 years, according to data from crypto tracker Whale Alert. A dormant wallet holding 197 ETH worth $622,685 has sparked intrigue and speculation within the cryptocurrency community.
Speculation surrounding the activation of dormant wallets
The sudden awakening of a long-dormant Ethereum wallet has sparked speculation about its owner's identity and intentions. Some suggest that the owner may rediscover the lost key, while others speculate that it may have been a strategic decision to “keep it” until now. The wallet's anonymity adds to the mystery, with no clear indication as to the identity of early ETH adopters or the reasons behind its prolonged dormancy.
Some members of the cryptocurrency community are speculating about the potential market movement indicated by the activation of dormant wallets. In contrast, others see it as a personal decision by an individual or group. Despite these speculations, the exact reason for the wallet's sudden awakening has not been revealed, and the mysteries surrounding the wallet remain largely unsolved at this point.
As Ethereum recovered the $3,000 price mark, on-chain sources reported a significant withdrawal of 10,119 ETH worth $31.83 million from Binance. Withdrawals of this magnitude are often interpreted as a signal of buying intent within the market. The whale behind the withdrawal has been actively accumulating ETH, purchasing 127,388 ETH worth $405.19 million. decentralized exchange This activity indicates bullish sentiment towards Ethereum, with whales consistently buying at an average price of around $3,172.
ICO participants sell their Ethereum shares
In recent developments, Coingape reported: ethereum whale These are people who acquired ETH during the Initial Coin Offering (ICO) phase and subsequently sold some of their holdings.The first whale to acquire 33,213 ETH at Ethereum's founding Genesis ICO In 2015, I deposited 5,110 ETH into Kraken or sold it via DEX for approximately $2,545. Despite this sale, Whale still holds large amounts of ETH, with approximately 29.7K ETH worth $89.4 million primarily in three wallets within the staking platform.
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