Dormant Ethereum (ETH) Wallet Shows Activity After More Than 8 Years
An Ethereum wallet that has been dormant for over eight years has suddenly become active, holding a substantial amount of ETH.
Whale Alert, a cryptocurrency transaction tracking service, reported that this pre-mined Ethereum wallet, containing 200 ETH (worth $506,140), has shown recent activity after being inactive for such a long period of time.
Other Recent Transactions
The activation of long-dormant cryptocurrency wallets often generates speculation and interest within the crypto industry. Typically, these movements are associated with early adopters or investors who had mined or purchased cryptocurrencies like Ethereum during their early stages.
Notably, this recent wallet activity is not an isolated incident. In December 2023, another pre-mined wallet with 11,640 ETH resumed activity after 8.4 years of dormancy.
In October and September of the same year, wallets containing 2,000 ETH and 200 ETH respectively were also reactivated after over eight years of inactivity.
These instances suggest a trend where early investors or holders may be re-evaluating their investments or deciding to liquidate their holdings, leading to such movements.
Ethereum Price Performance
The activation of these dormant wallets coincides with a period of volatility in Ethereum’s market performance.
At present, Ethereum (ETH) is valued at $2,515.28, experiencing a slight increase of 1.2% following a significant price drop.
Despite minor fluctuations, Ethereum maintains a substantial market capitalization of approximately $301.7 billion, with a 24-hour trading volume of around $17.9 billion.