- ETH surged 3.66% to $3,175 as an ancient wallet reactivated after 8.7 years.
- A $31.83 million ETH withdrawal from Binance signaled bullish sentiment.
- An ICO whale sold 5,110 ETH but retains $89.4 million worth across three wallets.
Ethereum (ETH) has surged by 3.66% within 24 hours, hitting a notable price of $3,175. This sudden spike coincides intriguingly with the reactivation of an ancient Ethereum wallet, lying dormant for nearly 8.7 years.
This previously inactive wallet, now holding 197 ETH valued at a staggering $622,685, has sparked intense speculation within the crypto sphere. Some theorize the possibility of the owner rediscovering lost access keys, while others entertain notions of a strategic decision to hold onto their assets until this opportune moment.
💤 A dormant pre-mine address containing 197 #ETH (622,685 USD) has just been activated after 8.7 years!https://t.co/qNtUtWgGqK
— Whale Alert (@whale_alert) April 21, 2024
As Ethereum soared past the $3,000 mark, on-chain data revealed a significant withdrawal of 10,119 ETH worth a substantial $31.83 million from Binance. Such large-scale withdrawals are often interpreted as a bullish signal within the market. Notably, the whale behind this withdrawal has been actively accumulating ETH, acquiring a staggering 127,388 ETH valued at $405.19 million from both decentralized exchanges (DEX) and Binance since April 8, indicating a strong positive sentiment towards Ethereum.
Meanwhile, reports emerged of an Ethereum whale, a participant in the Initial Coin Offering (ICO) phase, who recently sold a portion of their holdings. Having initially acquired 33,213 ETH during Ethereum’s Genesis ICO in 2015, the whale has deposited 5,110 ETH to Kraken or sold them via DEX at an approximate price of $2,545. Despite this sell-off, the whale still retains a significant ETH stash, holding approximately 29.7K ETH valued at $89.4 million across three wallets, primarily within staking platforms.
