According to on-chain data on Whale Alert, a leading crypto tracking service, a dormant whale Ethereum wallet containing 2,000 ETH recently became active. 

The whale wallet made the huge transfer, which is currently worth about $5,430,000 at press time, after staying inactive for 9.1 years.

Almost a decade has passed since the whale wallet’s last activity, during which time Ethereum’s value was less than $1. 

However, the recent transaction, boasting an impressive 99.5% profit margin, has resulted in a significant windfall for the wallet’s owner, an early adopter of Eth, yielding a gain of over $5 million.

A massive whale movement, with such an exceptionally high profit margin, typically creates a ripple effect in the cryptocurrency market, generating increased price volatility. However, after the Whale ETH wallet made the huge transfer of assets, the value of Ether has only reduced instead of rising. Starting the day at $2,772, Eth is currently selling at $2,724.

Whale Wallet Holding $1.756B Eth Transfers $154M to OKX Exchange

Earlier this month, another early adopter of Ethereum holding about $1.756 billion worth of ETH transferred 48,500 ETH, worth about $154 million at the time of the transaction, to OKX Deposit.

The whale wallet holder participated in the 2015 ETH ICO and acquired 1 million ETH at $0.311 per coin.

Dormant Address Reactivation on the Upswing

Whale Alert reported another dormant address that recently became activate. This time, the address holding 25 BTC, worth around $1,584,860, came to life after 11.5 years.

💤 A dormant address containing 25 #BTC (1,584,860 USD) has just been activated after 11.5 years (worth 686 USD in 2013)!https://t.co/s3oXC4xnDR

— Whale Alert (@whale_alert) August 26, 2024

In May, a dormant Bitcoin address that had been inactive for over ten years became active after a $40 million sale. When the wallet holder made its last move on Jan 12, 2014, it received 687 BTC at $630K. After HODLing until 2024, the mysterious trader made x63 more than its previous gain in 2014.

Last month, another Bitcoin whale address holding 1000 BTC was activated after staying inert for more than a decade. The Whale address transferred all its holdings to two addresses and made $60 million. In 2012, the trader got 1000 BTC for $11,908. However, after HODLing for almost 12 years, the unknown wallet holder made 500,000% profits.