Dormant Ethereum (ETH) Address Wakes Up After Over 8 Years
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Dormant Ethereum (ETH) Wallet Wakes Up After Over 8 Years

A dormant Ethereum wallet springs to life after 8.5 years, unearthing 200 ETH worth over $500,000.

A previously inactive Ethereum wallet holding a substantial amount of ETH has suddenly become active.

According to Whale Alert, a service that tracks large cryptocurrency transactions, this pre-mine Ethereum address, containing 200 ETH (equivalent to $506,140), has shown activity after lying dormant for over eight and a half years. 

Other Recent Transfers  

Often, the activation of long-dormant cryptocurrency addresses stirs speculation and interest within the crypto industry. 

Such movements are typically linked to early adopters or investors who had mined or purchased cryptocurrencies like Ethereum during their initial phases.  

The recent activation of this address is not an isolated incident. In December 2023, a similar pre-mine address with 11,640 ETH resumed activity after 8.4 years.  

See Also: TD Cowen Revealed That The SEC Will Not Approve An Ethereum ETF Soon

Earlier, in October and September of the same year, addresses containing 2,000 ETH and 200 ETH respectively, were reactivated after over eight years of inactivity.  

These instances suggest a pattern where early investors or holders, potentially re-evaluating their investments or deciding to cash in on their holdings, trigger such movements. 

The Ethereum price performance  The activation of these dormant addresses comes at a time when Ethereum’s market performance remains volatile. 

As of the latest data, Ethereum (ETH) is priced at $2,515.28, witnessing a minor increase of 1.2% after a significant price drop. 

Despite minor fluctuations, Ethereum maintains a significant market capitalization of approximately $301.7 billion, with a 24-hour trading volume of around $17.9 billion.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.