In Brief
- Dormant Ethereum wallet reactivates after nine years, transferring 50,000 ETH worth $145 million.
- OTC whales accumulated over 70,000 ETH in five days despite price weakness and market volatility.
- Technical analysis shows Ethereum maintaining a bullish long-term structure with steady accumulation.
A previously inactive Ethereum wallet resumed activity and transferred 50,000 ETH valued at roughly $145 million. The address stayed dormant for nearly nine years and still holds about 85,283 ETH.
Onchain records show the wallet withdrew approximately 135,000 ETH from Bitfinex in 2017.
At that time, ether traded near $90, placing the holdings near $12.17 million.
The recent movement occurred through two separate transactions sent hours apart to a Gemini-linked wallet. Blockchain analysts at EmberCN identified the transfers using Arkham Intelligence data.
This activity aligned with renewed movements from long-term Bitcoin holders across the crypto market. Last week, a Bitcoin wallet inactive for thirteen years moved 909 BTC worth around $84 million.
Together, these events point to reactivation rather than liquidation by early large-scale holders.
However, the transfers did not cause immediate selling pressure in spot markets.
Whale Accumulation and Technical Signals Reinforce Market Stability
Alongside reactivated wallets, Ethereum accumulation continued during recent market weakness. Lookonchain reported that an over-the-counter whale purchased 20,000 ETH worth about $56.13 million.
Over the past five days, the same buyer accumulated 70,013 ETH valued near $203.6 million.
These purchases occurred while ETH traded near the $2,800 level.
Market analysis from BullifyX noted Ethereum’s long-term structure resembles gold’s accumulation phases. The comparison highlighted extended consolidation followed by strong upside expansions.
Meanwhile, monthly chart analysis from Trader Tardigrade showed Ethereum maintaining a bullish structure. The chart displayed higher lows and orderly pullbacks within an upward trend.
Ethereum bullish structure | Source: XCombined, whale activity and technical patterns suggest confidence beneath short-term volatility. Consequently, Ethereum remains positioned for potential continuation within its broader market structure.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/ethereum/long-dormant-ethereum-wallet-reactivates/
