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Dormant Pre-Mine ETH Whale Stirs After 7.2 Years: Details

3 min ago2 min readEthereum
Dormant Pre-Mine ETH Whale Stirs After 7.2 Years: Details

Popular blockchain platform Whale Alert, which operates as a tracker of large crypto transactions, has spotted an awakened Ethereum wallet that had stayed dormant since late 2014.

The crypto contained in the wallet was pre-mined, so this may be one of the early Ethereum investors who bought this ETH during the ICO that took place in late July to early September 2014.

💤 A dormant pre-mine address containing 200 #ETH (282,115 USD) has just been activated after 7.2 years!— Whale Alert (@whale_alert) October 25, 2022

Two dormant ETH whales stirring

Now, after 7.2 years of being inactive, the owner of this wallet has transferred 200 pre-mined ETH evaluated at $282,115.

This is the second wallet that stayed dormant for a long period of time and has "awakened" recently. After this tweet by Whale Alert, Santiment data generator posted a tweet, sharing that an ETH address had shifted 15,000 Ethers worth approximately $22.2 million to an empty wallet.

This wallet stayed dormant for approximately six years, according to Santiment.

🐳😲 An #Ethereum whale wallet that had not been active for 6+ years woke up today & moved $22.2M worth of $ETH to an empty wallet. $ETH's price is +8.1% since this transaction, briefly jumping over $1,500 for the 1st time since the #merge 6 weeks ago. — Santiment (@santimentfeed) October 25, 2022

Overall, before the launch of the blockchain in 2015, 72 million Ethers were pre-mined, and since then, 40 million ETH have been paid out to miners. This makes the total supply, by now, equal to 142 million coins.

Ethereum rises 12.55%

Over the past 24 hours, the second biggest crypto by market capitalization value has suddenly increased in price, first by 11.33% in a series of green hourly candles and then adding a little more, making it rise by 12.55% in total by now.

At the moment of writing, Ethereum is changing hands slightly above the $1,500 level, gradually recapturing its earlier losses.

The first rise of ETH by about 8% took place after the first of the aforementioned dormant ETH wallets shifted its funds, per Santiment's tweet.

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