As a seasoned crypto investor with a decade-long experience in this dynamic market, I can’t help but be intrigued by the recent spate of dormant Ethereum and Bitcoin wallets that have suddenly resurfaced, showcasing substantial profits.
Excited expectations surround the upcoming ETF listing of Ethereum on the US Securities and Exchange Commission (SEC), leading to renewed activity from a previously inactive Ethereum Initial Coin Offering (ICO) “whale” investor.
Ethereum ICO Wallet Rebirth: Key Metrics Looks Good
Expert: Whale Alert, a well-known blockchain wallet monitor, has identified an Ethereum ICO wallet that last showed signs of activity nearly a decade ago. This dormant wallet originally held 977 ETH units. Based on the current Ethereum market value ($3,490.25), this stash is now valued at approximately $3.4 million.
A dormant address containing 977 #ETH (3,373,717 USD) has just been activated after 9.0 years!
— Whale Alert (@whale_alert) July 22, 2024
Around the ICO period, this altcoin scarcely changed hands for just a dollar. Subsequently, a significant surge in activity was observed in this whale’s wallet, implying substantial gains. The cause of this unexpected awakening remains unclear; however, it aligns with a recent pattern of dormant crypto wallets becoming active again.
Approximately one month ago, a long-dormant Ethereum wallet from the past was reactivated, containing approximately 6,000 ETH. At the time of this awakening, Ethereum’s price was hovering around $3,642, resulting in these Ethereum being valued at a significant $21.9 million. It seems that the owner of this wallet may be liquidating their holdings based on current market speculation. However, it is essential to note that the actions of this ICO-era Ethereum wallet have not had any noticeably detrimental effects on the overall Ethereum ecosystem.
The performance indicators for this altcoin remain strong, likely driven by anticipation for the imminent arrival of Ethereum-backed spot ETFs. The price of Ethereum itself is surging towards $3,500, while its trading volume is also experiencing a bullish uptick.
As a researcher, I’ve noticed an impressive surge in Ethereum trading volume within the past 24 hours, with over $50% increase. At present, Ethereum holds the third-largest traded position with a substantial trading volume of approximately $18.7 billion. Additionally, its market capitalization remains steady at around $419 billion, securing Ethereum’s second place among cryptocurrencies by market cap.
Dormant Bitcoin Addresses Return to Life
Recently, there has been an increase in the number of inactive Bitcoin wallets that have become active again. For instance, a Bitcoin wallet that had been dormant for over 10 years and last showed activity on Monday now holds 25 Bitcoins. At the time these coins were first added to the wallet back in 2013, they were worth roughly $20,399. However, their value skyrocketed to around $1,576,085 as of today.
The first inactive Bitcoin wallet yielded a gain of 7,597%, while the second one, which had been dormant for a decade, resulted in a profit of over 10,000%.
Significantly, investors who bought Bitcoin during its inception, or Satoshi era, and have held onto it ever since, are now reaping substantial gains.
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2024-07-23 01:53