As an experienced analyst, I find the recent activation of a dormant pre-mine Ethereum address containing $21.9 million worth of ETH to be an intriguing development in the cryptocurrency market. This is the first such occurrence this month and follows a trend of increased activity from these addresses in recent months.
As a researcher, I’ve come across an intriguing development regarding a previously inactive Ethereum (ETH) wallet. According to Whale Alert’s latest update, this pre-mine address, which holds approximately $21.9 million in ETH, has become active again for the first time in almost nine years.
The Ethereum address I’m referring to is the initial one that became active on the Ethereum network in June 2023, following two other addresses that unexpectedly activated in May with balances of $325,535 and $5.9 million respectively.
As a researcher studying the activation of pre-mined Bitcoin addresses, I’ve observed some interesting patterns. In April, a single address that existed before the Genesis Block was reactivated. Contrastingly, I identified three similar cases in March. Going further back, in February, no less than five pre-mined addresses emerged from years of dormancy. And in January, just two such addresses became active once more from the pre-mine era.
In 2014, Ethereum held a significant event where people could purchase pre-existing tokens, which had been minted prior to the network’s official launch.
Ethereum plunges
As a market analyst, I’ve observed that trading activity peaked following the intraday dip in Ether’s price down to $3,642 on this past Friday, based on the data provided by CoinGecko.
The US jobs report surpassed analysts’ predictions, causing cryptocurrencies to plummet. The stubbornly strong American labor market raises concerns for those anticipating rate cuts from the Federal Reserve. The likelihood of a 2024 rate reduction has significantly decreased due to the impressive jobs data.
Over the past four hours, approximately $49 million in Ether positions have been forcedfully closed, with long positions making up around 93% of this total.
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2024-06-07 23:27