Ethereum (ETH) Price Surges 3.66% Amid Ancient Wallet Activation

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Over the past 24 hours, Ethereum (ETH) price in the cryptocurrency market has experienced a significant increase of 3.66%, resulting in a current value of $3,175. This price hike aligns with the recent activation of an old Ethereum wallet that had lain dormant for approximately 8.7 years. As per information from crypto monitor Whale Alert, this wallet contained 197 ETH, equivalent to a substantial value of $622,685. The revival of this ancient wallet has ignited excitement and curiosity within the crypto community.

Speculation Surrounding Dormant Wallet’s Activation

A sleeping Ethereum wallet suddenly came to life, sparking curiosity about who its owner is and what they plan to do. Some assume the person found their forgotten keys, while others believe this could be a calculated move to buy and hold until now. The lack of information about the owner’s identity and the reason for the long sleep only adds to the intrigue.

In the world of cryptocurrencies, some believe that the activation of a previously inactive wallet could indicate upcoming market shifts. However, others argue that it’s simply a personal choice made by an owner or organization. Regrettably, the true motivation behind this unexpected event continues to elude us, keeping the intrigue surrounding it largely unexplained at present.

Recently, Ethereum reached a new milestone by surpassing the $3,000 mark. Notably, data from the blockchain revealed that a large investor, or “whale,” extracted 10,119 ETH, equivalent to around $31.83 million, from Binance. Such substantial withdrawals are usually seen as a precursor to buying more in the market. This particular whale has been acquiring Ethereum aggressively since April 8, amassing 127,388 ETH valued at approximately $405.19 million via decentralized exchanges and Binance. This pattern of behavior suggests a strong optimism towards Ethereum as the whale has been purchasing at an average price of roughly $3,172.

ICO Participant Sells Ethereum Holdings

Recently, Coingape announced that an Ethereum billionaire, who obtained 33,213 ETH during Ethereum’s Genesis ICO in 2015, has sold or transferred 5,110 ETH, worth around $12.8 million at the current price. However, this sale leaves them with a substantial fortune, as they continue to possess nearly 29.7K ETH, valued at approximately $89.4 million, spread across three wallets, mainly within staking platforms.

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2024-04-21 19:05