Ethereum

when

A dormant ETH address that had been silent for nearly a decade suddenly came back into action, having $21.9 million worth of ETH. According to the Whale Alert data, this is the first pre-mine Ethereum address to be reactivated in June. 
The awakening of the ancient crypto treasure has caused quite a stir among the Ethereum community on X with speculators wondering who could own such a wallet and what are their intentions with this huge amount of ETH. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 💤 💤 💤 A dormant pre-mine address containing 6,000 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#ETH</a> (21,962,887 USD) has just been activated after 8.9 years!<a href="https://t.co/HlrVyVZ7D6" target="_blank">https://t.co/HlrVyVZ7D6</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1799141886516469777?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 7, 2024</a>
 </blockquote> 
 </div>
</figure> 
Furthermore, prior to the official launch of Ethereum in 2015, there were pre-mine addresses. Through them, tokens were minted and distributed during Ethereum’s initial sale which allowed early supporters and investors to grab a piece before it was widely known as blockchain project at the time. 
While the reasons behind its sudden revival remain unknown, it coincided with when Ether experienced an abrupt dip in price.&nbsp; 
Last week witnessed ETH plunge close to an intraday low of $3,642 as the crypto markets reacted to the recent expected U.S. jobs <a href="https://www.bls.gov/news.release/pdf/empsit.pdf" target="_blank" rel="noopener">report</a> which reduced optimism about another immediate interest rate reduction by the Federal Reserve.

Ancient $21.9m Ethereum Whale Awakens After 9 Years

The Crypto Times

Other articles published on Jun 8, 2024

Crypto Assets Bearish Outlook: Is a Reversal Imminent?

US Bitcoin ETF Inflows Have 19th Consecutive Positive Day

Fidelity Strengthens ETF Market Hold With Revenue-Sharing Agreements

MoonBag, The Top Crypto Presale, Offers 88% APY and Outshines Rivals Fanthom and Slothana

Binance reaches 200M users with $100B in assets under custody

Crypto Stars Rally Behind BlockDAG’s $46.8M Presale, Surpassing Solana ETF & Mastercard

Join our free newsletter for daily crypto updates!