Ethereum

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A dormant Ethereum (ETH) whale is back to life after more than three years of inactivity. According to insights&nbsp;<a href="https://twitter.com/lookonchain/status/1735117364491075800">shared</a> by crypto analytics platform Lookonchain, the once dormant whale has deposited a total of 5,000 ETH worth approximately $11.3 million to Coinbase.
Typically, when related deposits are made to crypto trading platforms, it is often a sign of a sell-off, and this appears to be what this whale is making a move at. According to market data, the Ethereum whale has been receiving funds since as early as 2017, when the price of Ethereum was still $60.
<blockquote>
 A whale that has been dormant for nearly 3 years deposited 5,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($11.3M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> 3 hours ago and currently has 20,398 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($45.88M) left.The whale received <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> from <a href="https://twitter.com/hashtag/Bitfinex?src=hash&amp;ref_src=twsrc%5Etfw">#Bitfinex</a> in 2017 when the price was ~$60.<a href="https://t.co/bSAWFB8XYe">https://t.co/bSAWFB8XYe</a> <a href="https://t.co/WtvEdeNH9L">pic.twitter.com/WtvEdeNH9L</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1735117364491075800?ref_src=twsrc%5Etfw">December 14, 2023</a>
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The last major inflow the whale received came about three years ago, when it bagged a total of 25,398.1 ETH. At the current market value of $2,281.29 per Ethereum, this fund is worth $57,940,431.549.&nbsp;
As the whale woke up, it conducted at least two test transactions featuring outbound 0.07 ETH and inbound 0.067 ETH, a move that might be intended to confirm it still has skin in the game. After the 5,000 ETH were moved, the whale is now left with 20,398 ETH worth approximately $45.88 million.
<h2 id="reawakening-dormant-addresses-now-trendy">Reawakening dormant addresses now trendy</h2>
While the reawakening of the Ethereum whale address shows more hidden influential wallets within the network, the move is arguably&nbsp;<a href="https://u.today/dormant-ethereum-eth-whale-just-woke-up-from-sleep-his-first-moves">becoming a trend</a> as other major cryptocurrencies also see reawakening whale addresses.
As&nbsp;<a href="https://u.today/dormant-eth-ico-whale-goes-on-huge-selling-spree-on-kraken">reported</a> earlier by U.Today, an ICO-era Ethereum address woke up in late November and went on a selling spree on Kraken Exchange. At the time, the whale sent 3,000 to Kraken for potential liquidation, leaving the 5,172 ETH worth approximately $10.7 million.
Besides Ethereum, dormant Bitcoin (BTC) addresses are also&nbsp;<a href="https://u.today/dormant-bitcoin-whale-awakens-after-6-year-hiatus">prominently featured</a> in these reawakening and liquidation trends.

Dormant Ethereum (ETH) Whale Reawakens to Spark Sell-off Fears

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