Ethereum Whale Awakens After 10 Years, Stakes 40,000 ETH Again

Ethereum Whale Awakens After a Decade, Chooses Staking Over Selling

A dormant Ethereum whale has reawakened after nearly ten years, but instead of liquidating their holdings, the large investor has chosen to deploy their entire stash into staking. This move signals ongoing conviction in Ethereum’s long-term potential amidst recent market activity.

The whale’s wallet contains 40,000 ETH, which the holder acquired for approximately $12,000 during Ethereum’s ICO in July 2015, at the launch of the genesis block. This investment, now valued at around $120 million, has remained untouched until recent activity. Instead of transferring funds to an exchange, the whale has staked their complete ETH holdings—an indication of confidence in Ethereum’s staking and network security, especially as the DeFi and proof-of-stake ecosystems continue to evolve.

Source: Lookonchain

Over the past month, industry chatter has intensified regarding large crypto whales moving significant assets, with some observers attributing recent price volatility to these high-net-worth investors liquidating or repositioning their holdings. The recent behavior of some early Ethereum adopters underscores this dynamic, as a few have started reducing their stakes while others continue to accumulate.

Other Notable ETH Movements from OG Holders

One prominent Ethereum investor—who acquired over 254,908 tokens during the ICO—began selling their holdings on November 26. Initially offloading 20,000 ETH, they progressively reduced their position, leaving approximately $9.3 million worth of ETH as of Saturday. Meanwhile, another veteran of the ecosystem, with an initial stash of 154,076 ETH starting in 2017, sent 18,000 tokens to Bitstamp after previously selling nearly 88,000 ETH at an average of $1,694 per token.

In parallel, a significant ICO wallet that remained inactive for eight years re-engaged in staking activities, acquiring 1 million ETH at launch and moving 150,000 ETH into a new staking wallet. These actions highlight the ongoing confidence of certain key players in Ethereum’s future and its staking ecosystem’s robustness.

Whales Keep Accumulating ETH

Despite some early investors reducing their exposure, data indicates that the largest Ethereum addresses continue to accumulate. The top 1% of ETH holders now control approximately 97.6% of the circulating supply—an increase from 96.1% a year ago, according to blockchain analytics platform Glassnode. Notably, the Eth2 Beacon Deposit Contract holds 72.4 million ETH, roughly $203 billion, accounting for about 60% of the total supply, as reported by Arkham.

Major holders like Binance and asset management firms such as BlackRock maintain substantial ETH reserves, with 4 million and 3.9 million ETH respectively, emphasizing institutional interest in Ethereum’s future prospects.

This article was originally published as Ethereum Whale Awakens After 10 Years, Stakes 40,000 ETH Again on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.