Faced with the tumult of the crypto market, an Ethereum wallet that had been inactive for eight years recently awoke, moving its entire Ethers worth around 3 M$.
An address wakes up after eight years on the Ethereum blockchain
In the cryptocurrency world, big transfers, especially those orchestrated by “whales”, can often rock the market. However, the recent movement of this old wallet was carried out without creating any major stirs.
The blockchain specialists at Whale Alert were the first to report this unusual activity. After 8.2 years of dormancy, a pre-mined ethereum wallet containing 2,000 ETH mobilized. As of October 21, 2023, this is equivalent to a considerable $3,270,000 (USD).
To go back in time, this portfolio had been left fallow around 2015, when Ethereum was first issued. Thanks to the ”Smart Money “ from @lookonchain we learn that this whale didn’t just carry out an ordinary transaction. It relocated all its assets to four separate blockchain addresses.
The Ethereum blockchain network uses the ETH crypto as a transaction fee. Between October 19 and 20, the value of ETH appreciated by 4.71%, peaking at $1,620.
This context is paralleled by a rise in the number of major Ethereum holders. The “whales” holding at least 1 million ETH have increased their holdings, now representing 32.3% of the total supply in circulation, a first since 2016. Santiment a company specializing in blockchain data, has also reported significant transfers of Ethereum over a million dollars this week.
So, how decentralized is the Ethereum network in 2023?
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.