A long-dormant Ethereum address that holds a significant amount of ETH has sprung back to life after more than eight years, taking advantage of the recent uptrend in the cryptocurrency market.
According to Whale Alert, the address, which had been inactive for 8.7 years, now contains 1,000 ETH worth $3,566,935.
Data from the blockchain shows that this address was created before Ethereum was officially launched in 2015, making it a pre-mine address. Interestingly, it received 1,000 ETH through a Genesis transaction on July 30, 2015, but has remained dormant ever since.
However, with the recent surge in the price of Ethereum, the address has suddenly become active again, initiating a series of transactions ranging from 2 to 100 ETH.
The first transaction occurred today at 01:09 (UTC), when the address transferred 2 ETH. Two hours later, it moved 8 ETH to a different address. The final transaction took place at 04:46 (UTC), with the address transferring 100 ETH worth $356,111 to another wallet. In total, the pre-mine address moved 110 ETH to three different recipient wallets. As of now, these recipient wallets have not yet moved the funds.
After these transactions, the ancient address now holds 889.99 ETH, valued at $3.17 million. The identity of the user behind the address remains unknown.
This recent activation is not an isolated incident, as Whale Alert has reported similar occurrences in the past. Last month, a pre-mine Ethereum address containing 238 ETH was activated after being dormant for 8 years and six months. In January, another Ethereum address containing 200 ETH of pre-mined funds awakened after nearly eight and a half years of dormancy. Additionally, network participants have also activated dormant pre-mine Ethereum addresses containing 200 and 500 ETH after several years of inactivity.
Despite the reawakening of these dormant addresses, the price of ETH has not been negatively impacted. Currently, ETH is trading at $3,561, reflecting a 0.98% increase in the past day.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.