An Ethereum address that had been dormant for over eight years, holding a significant amount of ETH, has sprung back to life, capitalizing on the recent surge in value.
Whale Alert reports that an inactive Ethereum address, housing 1,000 ETH valued at $3,566,935, has recently been reactivated after a hiatus of 8.7 years.
Details of the Reactivation
Blockchain data reveals that this address is a pre-mined one, established prior to Ethereum’s official launch in 2015. Notably, this unnamed address received 1,000 ETH via a Genesis transaction on July 30, 2015. Nevertheless, it remained inactive until now.
With Ethereum’s price climbing to around $3,600, this address has stirred from its slumber, initiating a series of transactions ranging from 2 to 100 ETH.
The initial transaction, worth 2 ETH, was executed today at precisely 01:09 (UTC). Subsequently, the pre-mined wallet transferred 8 ETH to another address two hours later.
The last transaction occurred at 04:46 (UTC), where the address sent 100 ETH valued at $356,111 to another wallet. In total, the pre-mined address transferred 110 ETH to three different recipient wallets. As of now, these recipient wallets have yet to move the funds.
After these transactions, the ancient address now holds 889.99 ETH, valued at $3.17 million. The identity of the user controlling this address remains unknown.
Other Dormant Pre-Mine Ethereum Addresses Awakening
The recent reactivation of this Ethereum address is part of a series of similar events reported by Whale Alert. Last month, a dormant Ethereum address containing 238 ETH was reactivated after lying dormant for 8 years and six months.
Similarly, in January, another Ethereum address holding 200 ETH in pre-mined funds was reactivated after nearly eight and a half years of inactivity.
As previously noted, network participants have also reactivated dormant pre-mined Ethereum addresses containing 200 and 500 ETH after several years of dormancy.
Despite these activations, the price of ETH has not been negatively impacted. At the time of writing, ETH was trading at $3,561, marking a 0.98% increase over the past day.
Disclaimer: This article serves as informational content and should not be construed as financial advice. The opinions expressed herein are solely those of the author and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.