Long-Dormant ETH Whale Wakes Wallet Holding $119 Million
Analysis
Price Impact
HighThe movement of 40,000 eth ($119 million) by an early ico participant after over a decade of dormancy introduces significant uncertainty and potential selling pressure. while the funds were moved to a new wallet and not directly an exchange, the sheer volume means any eventual sale could heavily impact the market.
Trustworthiness
HighThe information is based on on-chain data from lookonchain, a reputable source for tracking whale movements. the fact of the transfer is verifiable; the potential future actions are speculative but based on historical precedents of similar 'waking' wallets.
Price Direction
BearishHistorically, when long-dormant whales, especially early ico participants, reactivate and move such large sums, it often precedes or is perceived as a precursor to selling. the potential for a $119 million sell-off creates a bearish sentiment due to the significant supply injection this would represent.
Time Effect
ShortAny market reaction, whether from anticipation or an actual sale, would likely occur in the short term. the market tends to react quickly to large, unexpected movements from major holders.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Yet another long-dormant Ethereum whale has woken up from hibernation, according to data provided by Lookonchain. Advertisement The wallet in question (0x2dCA…) is reportedly from an early Ethereum ICO. According to the data, the owner originally invested about $12,400 and obtained 40,000 ETH. Today, it is worth roughly $119.5 million. HOT Stories Banned GPUs Help North Korea Expand Crypto Heists How Low Will Bitcoin Price Drop in 2025? Crypto Market Prediction: Can Ethereum Surge Toward $3,500 as Momentum Rebuilds? XRP's Bullish Reversal Targets $2, Dogecoin (DOGE) Eyes Fresh Upside Push Early Uber Investor Urges Tether to Sell Its Bitcoin Holdings After more than a decade of dormancy, the wallet executed a test transfer of 5 ETH (~ $15,000) to a new address, which was rather noteworthy. Advertisement Shortly after that, the remaining 39,995 ETH was moved to a different wallet (0x2602…). Blockchain history shows many similar cases of long‑dormant wallets "waking up." Over the past several months, a few Ethereum ICO-era wallets have reactivated after more than ten years of dormancy. On August 11, a participant holding 20,000 ETH (initial investment $6,200) sold 2,300 ETH ($9.91 million). On August 13, another participant who originally bought 100,000 ETH for $31,000 had previously sold 44,284 ETH ($105 million) since 2021 and recently sold an additional 4,283 ETH ($18.97 million). On August 16, a wallet holding 334.7 ETH ($1.48 million), purchased for $104, transferred all funds after more than ten years. What's behind this transfer? Some typical explanations and speculated motivations include recovered access to old private keys or seed words. Some early investors might have lost track of their wallets or seed phrases; Hence, reactivation may occur when they finally recover access. Such transfers can also be attiruted to re‑allocation or consolidation. It is unkown if they will sell on an exchange, hold in new wallet, stake, or move off‑chain. Unless funds hit a centralized exchange, the intentions remain rather speculative. #Ethereum News #Cryptocurrency Whales