In a major development in the cryptocurrency world, an Ethereum whale that had been inactive for over eight years has suddenly come back to life.
According to Etherscan data, an Ethereum address that was created during the genesis block in July 2015 and had lain dormant since, has now transferred out 100 ETH worth over $230,000.
The awakened whale sent 20 ETH to one unknown address and 77 ETH to another, sparking intense curiosity in the crypto community.
This lines up with a recent trend of long-dormant Ethereum whales suddenly transferring out large amounts of ETH after years of inactivity. Just last week, another address containing 492 ETH worth $1.14 million was activated after lying low since its creation.
The reasons behind these whales waking up remain unclear, but their movements are being closely watched by industry experts. With Ethereum prices still subdued, some speculate the transfers could signal a bullish outlook from major holders.