Ancient ETH Wallet Comes to Life After 8 Years, Transferring Millions in Ethereum

A blockchain tracking entity has discovered a pre-mined Ethereum wallet that has been inactive for over eight years. This wallet contains a significant amount of 2,000 ETH, which, at current exchange rates, is valued at approximately $3,198,920.

### Pre-mine ETH Whale Moves Funds

The wallet came back to life after 8.2 years, as noted by Whale Alert, indicating it last operated around 2015, during the height of the initial coin offering phase. An additional source on the X platform, the “Smart Money” tracker, revealed that the wallet has transferred all its 2,000 ETH to four distinct blockchain addresses.

This whale acquired its 2,000 ETH at the Ethereum Genesis, a time when it was worth only $620.

### Ethereum Price Movement

Recently, Ethereum, the second-largest cryptocurrency, experienced a notable increase of 4.71% from October 19 to 20, climbing from $1,547 to $1,620. However, a slight decline followed, resulting in a 1.46% drop in price. Earlier in the week, Ethereum saw a sharp decrease of 3.96%, which coincided with misinformation regarding the SEC’s approval of BlackRock’s Bitcoin ETF filing.

As of now, Ethereum continues to be actively traded.

Additionally, large-scale holders of Ethereum, defined as those who own at least 1 million ETH, now account for 32.3% of the total circulating supply, a level not seen since 2016. Recently, on-chain data analysis by Santiment identified transfers exceeding $1 million in value, highlighting significant movements within the network.