By Key Points
- A long-dormant Ethereum wallet resurfaces after 9.4 years.
- Originally holding ETH worth $601, now valued at $6.56 million.
- Achieved a staggering 1,092,728% ROI since Ethereum’s ICO.
- Surge in whale activity despite Ethereum’s 5% price drop.
An Ancient ETH Wallet, dormant for almost a decade, has suddenly reawakened, capturing the attention of the crypto community.
This wallet, tracked by blockchain monitoring platform Whale Alert, was part of Ethereum’s 2014 Initial Coin Offering (ICO).
Back then, it held 1,940 ETH worth a modest $601. Today, that same amount is valued at a jaw-dropping $6.56 million—a record-breaking return on investment of 1,092,728%.
This Ancient ETH Wallet received its tokens directly from Ethereum’s Genesis block, a milestone in the blockchain’s history.
Its sudden activation after 9.4 years hints at strategic timing by the wallet owner, likely influenced by current market dynamics and Ethereum’s enduring growth as a cryptocurrency powerhouse.
The revival of this wallet comes as whale activity surrounding Ethereum reaches a new high, even amidst a broader price dip.
An #Ethereum ICO participant woke up after 9.4 years of dormancy and transferred 0.01 $ETH to a new wallet.
The participant received 1,940 $ETH(ICO cost was $601, now worth $6.56M) at #GENESIS.https://t.co/5iYUifc273 pic.twitter.com/3yvhapbFyI
— Lookonchain (@lookonchain) December 27, 2024
Ethereum Price Drops, Whale Activity Soars
The sudden activity from the Ancient ETH Wallet is just one example of a growing trend among Ethereum whales. Despite the cryptocurrency’s price dropping 5% this week—from $3,495 to $3,320—major transactions have surged.
Whale Alert tracked multiple large transfers, including 15,000 ETH (worth $50.7 million) withdrawn from Binance and 47,534 ETH (worth $164.9 million) exchanged between anonymous wallets.
These movements often signal confidence among high-net-worth investors, who may see opportunities amid market volatility. Ethereum remains a vital part of the crypto landscape, attracting whales even during bearish trends.
Further fueling optimism, institutional interest in Ethereum continues to rise. BlackRock’s iShares Ethereum Trust ETF (ETHA) outperformed its Bitcoin equivalent, pulling in $44 million in inflows, while Bitcoin funds saw $188 million in outflows.
This shift highlights Ethereum’s growing dominance among institutional investors looking for exposure to blockchain technology beyond Bitcoin.
The Broader Impact of Dormant Wallets
The reactivation of the Ancient ETH Wallet underscores the potential of long-term investments in cryptocurrencies. Dormant wallets like these often signal trust in the underlying blockchain’s prospects.
Their resurgence can impact market sentiment, particularly when they hold substantial amounts of crypto.
This wallet’s return to activity coincides with Ethereum’s continued evolution. Although the cryptocurrency has seen significant price fluctuations—dropping 22% earlier this month before stabilizing—the network remains robust.
Institutional adoption, DeFi growth, and Ethereum’s position as the backbone of many blockchain applications continue to bolster its reputation.
The story of this Ancient ETH Wallet also serves as a reminder of Ethereum’s historic journey from a fledgling project to a cornerstone of the crypto world. As it evolves, Ethereum proves its resilience, making headlines through events like this wallet’s awakening.
What's your reaction?
