As a seasoned analyst with over two decades of experience in the financial markets, I find these recent events in the cryptocurrency world particularly intriguing. The reactivation of these ancient Ethereum and Bitcoin wallets after such prolonged periods is reminiscent of a time capsule being uneartthored – a fascinating glimpse into the past and the potential impact on the present market dynamics.
A well-known blockchain detective, Whale Alert, recently announced that a long-dormant Ethereum wallet, dating back nearly a decade, has been reactivated around two hours ago.
This blockchain address contains more than $5 million worth of Ethereum.
Dormant ETH wallet kicked back to life
9 and a half years ago, the cryptocurrency wallet mentioned earlier became active again, and it’s brimming with Ether tokens – 2,000 to be exact, which are currently valued at an astonishing $5,476,804. At the time of its last use in 2014 (the year of Ethereum’s ICO), this quantity of Ether was roughly equivalent to $620, as each Ether coin was worth approximately $0.31.
At the moment, Ethereum, currently the second largest cryptocurrency in terms of market capitalization, is being traded at approximately $2,743. This represents a 2.6% decrease over the past day. This drop came after Ethereum experienced a significant price rise over the last week, increasing nearly 10%, moving from the $2,570 range to a recent high of $2,815.
Today, Whale Alert identified significant Ethereum (ETH) transactions carried out by active ’round-the-clock’ whales. Among these transfers, 29,999 ETH were sent to Binance, the world’s leading cryptocurrency exchange. Additionally, two nearly identical amounts of Ether (12,573 ETH each) were deposited into Coinbase, the largest U.S.-based exchange. Despite market volatility, these transfers were valued differently: one was worth approximately $34,606,448, while the other had a value of around $35,014,241.
Dormant Bitcoin whales reactivated en masse
Notably, Whale Alert announced that two Bitcoin wallets, previously inactive for extended periods, have recently become active again. One of these wallets had lain dormant for eleven years, while the other hadn’t seen any activity for approximately thirteen and a half years.
The total value of the Bitcoins contained was approximately $5,744,832 and $8,744,800, equivalent to 25 BTC and 64 BTC respectively. Recently, several long-dormant Bitcoin accounts have been activated by their owners. These individuals either chose to begin selling their Bitcoins that had not moved in over a decade or managed to retrieve their presumed-lost private keys.
☕ An inactive Bitcoin wallet holding approximately 25 coins (equivalent to around $1,597,432 today) has unexpectedly become active again after being dormant for nearly 11 years (worth roughly $3,195 back in 2013)!
— Whale Alert (@whale_alert) August 25, 2024
Currently, Bitcoin, the leading global digital currency, is being traded at approximately $63,973. On Friday, following Fed Reserve Chairman Jerome Powell’s announcement about potential future interest rate reductions, Bitcoin experienced a 6.1% surge. As a result, its value climbed from $60,720 to $64,470. In the same manner, Ethereum and other cryptocurrencies also saw an increase in their values.
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2024-08-26 15:07