Ethereum

2024

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In a remarkable development within the cryptocurrency sphere, an inactive Ethereum whale, dormant for eight and a half years, has reemerged into the scene by transferring a significant 100 ETH, translating to a substantial $230,159.&nbsp;<a href="https://etherscan.io/address/0x2e8eb30a716e5fe15c74233e039bfb1106e81d12" rel="noopener noreferrer nofollow">Etherscan</a> data reveals that this address, dormant since its genesis block in July 2015, has stirred curiosity as it displays activity for the first time.
The awakening saw the whale execute transfers, sending 20 ETH to one undisclosed address and 77 ETH to another, both shrouded in mystery. This resurgence aligns with a recent trend, as another dormant&nbsp;<a href="https://u.today/ethereum-eth-stakers-are-back-data-says" rel="noopener noreferrer nofollow">Ethereum</a> address, containing 492 ETH valued at $1.14 million, was activated after a prolonged dormancy since its genesis event, as reported by&nbsp;<a href="https://u.today/ancient-ethereum-whale-suddenly-awakens-after-9-years" rel="noopener noreferrer nofollow">U.Today</a> last Friday.
<blockquote>
 💤 A dormant pre-mine address containing 100 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETH</a> (230,159 USD) has just been activated after 8.5 years!<a href="https://t.co/TJYiR7ruZm" rel="noopener noreferrer nofollow">https://t.co/TJYiR7ruZm</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1754018177200054664?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 4, 2024</a>
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<h2 id="influence-on-ethereum-price">Influence on Ethereum price</h2>
The sudden activation of these major players in the crypto market prompts speculation about potential ramifications for&nbsp;<a href="https://u.today/greed-takes-over-ethereum" rel="noopener noreferrer nofollow">Ethereum's price</a>. Historical data indicates that similar instances, where substantial volumes were moved by large holders of cryptocurrencies, often triggered market volatility. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="3efeff70-fca4-4227-9271-8c51a4abe2c2" src="https://u.today/sites/default/files/inline-images/eth_372.png">ETH to USD by <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Despite a double-digit drop in Ethereum's value following the last awakening of such whales in late May, the cryptocurrency managed to bounce back. Analysts now caution against underestimating the potential risks associated with these dormant whales.&nbsp;
If more such entities resurface, market participants are advised to heed historical patterns and exercise prudence to avoid overestimating potential risks.
The crypto community remains on high alert, closely monitoring the actions of these dormant giants, as their reentry into the market could hold implications for the altcoin's stability.

Another Dormant Ethereum Whale With Pre-Mined ETH Suddenly Wakes Up

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