Decade-Old Ethereum ICO Wallet Moves Significant Holdings
A dormant Ethereum ICO address, which had been inactive for over 10 years, transferred nearly 40,000 ETH valued at approximately $1.19 billion to a new wallet on November 30. This significant movement was monitored by Hyperinsight.
This large-scale transfer highlights robust confidence among long-term investors and suggests potential institutional strategies in Ethereum, occurring amidst stable trading volumes and rising prices above $3,000.
Whale's $1.19 Billion Move Stirs Crypto Community
A dormant Ethereum ICO whale was activated, transferring 39,995 ETH worth $1.19 billion to a new address. Initially acquired at $0.31 per ETH in 2015, these holdings now represent a substantial return of nearly 9,639 times the initial investment.
According to Lookonchain, "The whale transfer is significant and worth monitoring for subsequent activity that might influence ETH liquidity and price dynamics."
Institutional interest remains robust, with Bitmine receiving 16,693 ETH from FalconX, highlighting continued market confidence.
No immediate sale indicators were detected from the whale, which has curbed short-term market sell pressure concerns. Market analysts and community members are closely watching the event, noting the possibility of future strategic asset positioning by the whale holder.
Ethereum Market Data Reflects Resilience Amid Whale Movements
Historical cases of decade-inactive whales indicate substantial potential to shift market sentiments, though not always causing direct volatility.
Ethereum is trading at $3,002.09, boasting a market cap of $362.34 billion with a 24-hour volume of $12.51 billion, reflecting a 0.70% daily decline. Over the past seven days, ETH has gained 6.53%, though it remains below recent peaks.
Coincu analysts suggest substantial institutional movements, such as Bitmine's inflow, signal market confidence and possible DeFi integration. Careful observation is needed for potential regulatory repercussions or technological infrastructure implications.