Genesis Ethereum Wallet Address Comes Alive After Nearly 9 Years of Dormancy
In a surprising turn of events, a previously dormant Ethereum wallet address has sprung back to life after remaining inactive for almost 9 years. This particular wallet, which holds a significant amount of ETH tokens, has been untouched since 2015, the same year Ethereum was launched. The sudden reactivation of the wallet has sparked discussions among the cryptocurrency community, with many curious about the reason behind its comeback.
Dormant Ethereum Whale Reactivates, Holding Almost 2k ETH Tokens
Earlier today, WhaleAlert, a prominent tracker of large cryptocurrency transactions, made the revelation that a dormant “pre-mine” Ethereum address has been reactivated after a staggering 8.8 years of inactivity. This wallet currently holds exactly 1,969 ETH tokens, valued at a substantial $5.87 million at the time of reporting.
The news has left members of the crypto community astonished by the length of time the whale remained inactive. While some speculate that it may be a strategic reawakening, others are impressed by the fact that the whale was able to remember its password after such a prolonged period.
Coinciding Reactivation of Ethereum Foundation Wallet
Prior to this event, another old wallet associated with the Ethereum Foundation was also reactivated after being dormant for nine years. As previously reported, this wallet received ETH from the official foundation address in 2015 and recently moved 2000 ETH tokens (worth $6.507 million) to an address labeled “0x9d2D.”
It is worth noting that the market has historically responded negatively when the Ethereum Foundation released significant amounts of Ethereum. This week alone, investors have witnessed multiple sales made by the foundation. In a report earlier today, it was revealed that another wallet connected to the foundation sold 100 ETH tokens for 291,267 DAI stablecoin via the Cow Protocol. The reactivation of the Ethereum address aligns with a surge in overall Ethereum whale activities witnessed this week. Crypto trader and analyst Ali Martinez highlighted that the growth in Ethereum whale activities over the past year has been the largest, with over 139,000 new ETH wallet addresses created on April 29 alone.
Ethereum Price Responds
In the midst of this development, Ethereum has followed the broader crypto market in a price reversal, experiencing notable gains today. According to data from CoinMarketCap, Ethereum (ETH) is currently being traded at $2,990, representing a 1.2% increase in the last 24 hours.
However, while the price of Ethereum is on an upward trajectory, its trading volume has taken a different direction, dropping by 28.01% within the recorded period. As a result, Ethereum now has a live market cap of $358.7 billion. Looking back, the price of ETH has experienced a 5.49% decrease over the past 7 days and an 8.57% drop in the last month. Top crypto analysts have even predicted that the Ethereum price may further decline to the $2,500 zone.
Tags: Ethereum, Wallet Address
