Resurrection of Ancient Ethereum Whale

Unexpectedly, after 8.1 years of dormancy, an ancient Ethereum whale has returned to life. This dates back to 2014, when the initial coin offering (ICO) of Ethereum began and made history.

Later, the Ethereum chain served as a launchpad for the subsequent iterations of blockchains, including EOS, TRON, and many others.

Binance, the largest cryptocurrency exchange, launched its native token on Ethereum before transferring it to its own Binance Smart Chain (later renamed BNB Chain).

According to a recent X post by the cryptocurrency tracker Whale Alert, the aforementioned wallet transmitted 185 ETH worth $302,096 to the U.S. Kraken exchange roughly two hours ago.

Subsequently, a much larger quantity of Ethereum, 50,000 coins, was sent to Kraken for sale. The value of 50,000 ETH is equivalent to 81,638,671 dollars.

However, it was transferred from a wallet other than the one previously mentioned.

Approximately three weeks ago, another dormant Ethereum behemoth (a premine one) awoke and sent 191 ETH worth $317,724 to an anonymous wallet.

Several inactive wallets containing large and minor amounts of Ethereum and Bitcoin have been reactivated over the past few years.

In many cases, these long-time cryptocurrency proprietors may have just discovered their lost private keys to their wallets, as suggested by several commenters.

As previously reported, an anonymous “smart whale” withdrew two substantial amounts of ETH from the Binance exchange.

Each time, he removed slightly less than 10,000 ETH from the platform, for a total of 19,508 ETH.

He claimed that he bought on the decline, while Ethereum is traded in the $1,600 region.

Earlier this year, on July 1, the same wallet purchased 8,188 ETH during a fleeting price decline caused by the SEC’s rejection of several Bitcoin spot ETF filings, including BlackRock’s, as “inadequate.”