Dormant Ethereum wallet reactivates after 8 years
Reports show that this whale originally acquired 1,000,000 ETH during the Ethereum ICO with an initial investment of just $310,000, spread across three wallets. After years of inactivity, the whale “woke up” and transferred 150,000 ETH (worth around $645 million) to a new wallet for staking.
Beyond that, the whale still controls 105,000 ETH, valued at roughly $451.5 million, across two other wallets.
Whales and institutions keep accumulating ETH
Lookonchain also highlighted that major retail whales and financial institutions continue to aggressively accumulate Ethereum. Over the past two days, they purchased a total of 218,750 ETH, worth nearly $943 million.
One notable player is Bitmine, a firm tied to Fundstrat’s Tom Lee, who has recently turned into a staunch Ethereum bull. Bitmine acquired 69,603 ETH (around $300 million) from BitGo and Galaxy Digital.
Additionally, five newly created wallets bought 102,455 ETH (approximately $441.6 million) via the FalconX platform.
In the past 24 hours, Ethereum — the world’s second-largest cryptocurrency — has gained 3.55%, climbing to $4,420. On the hourly chart, ETH formed a massive green candle, pushing the price up another 2% and fueling optimism in the market.
