Ethereum Whale Awakens After 9 Years, Transfers $145 Million ETH to Gemini
In a significant development that sent ripples through the cryptocurrency market, a long-dormant Ethereum (ETH) whale address, previously inactive for an astounding nine years, suddenly sprang to life on January 25th. Within a mere few hours, this colossal entity executed a transfer of 50,000 ETH, valued at approximately $145 million, directly to the prominent cryptocurrency exchange Gemini.
On-chain analyst Ember, citing comprehensive data from blockchain intelligence firm Arkham Intelligence, provided crucial insights into this high-profile movement. The mysterious whale, identified by the address “0xb5…Fb168D6”, executed the substantial transfer in two distinct phases. Initially, 25,000 ETH was moved, followed by another equally large transfer of 25,000 ETH just hours later, as detailed in a recent update. (Source: Ember on X, citing Arkham Intelligence)
Further examination of on-chain data reveals the profound history behind this address. Its last significant activity dates back to 2017, when it withdrew a massive 135,000 ETH from the Bitfinex exchange. At that time, Ethereum was trading around $90, making the total value of that withdrawal approximately $12.17 million. Remarkably, the value of this investment has since seen an astronomical 32-fold appreciation, underscoring the immense long-term gains held by early adopters.
Despite the substantial outflow of 50,000 ETH, the address still retains a considerable holding of 85,000 ETH, keeping market participants on high alert for any further movements or potential market impact.
A Trend of Awakening Giants: Not an Isolated Incident
This isn’t an isolated incident within the crypto ecosystem. The market has recently witnessed a series of awakenings from deep slumber, suggesting a potential shift in the strategies of long-term holders. Just last week, another address, dormant for an even longer period—a remarkable 13 years—stirred to life, moving 909 Bitcoin (BTC), worth an estimated $84 million, to a new address. Such movements from ‘sleeping giants’ often spark intense speculation regarding their motivations, whether it be profit-taking, portfolio restructuring, or preparation for new ventures.
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