One Ethereum wallet that has been dominant for around 8 years now has recently sprung back to life. Following LookChain data analysis, the wallet was created on July 30, 2015, with 2,000 ETH (around $0.31 each back then).
On the 24th of March, the wallet is reported to have been seen active. The coin has greatly gained much profit, a staggering $6.7 million, around $1.1M, a percentage increase all thanks to Ethereum’s bullish price movements.
This quarter has seen multiple instances of dormant Ethereum wallets being activated. After the price of ETH topped 3,200 late last month, 238.75 ETH, or roughly $770,000, was transferred to Coinbase from another dormant wallet that dated back to the days of the Ethereum ICO.
These reactivated wallets’ identities and motivations are yet unknown. Perhaps after a protracted wait, the owners are finally cashing in on their gains. There’s also the possibility that the SEC’s approval of an Ethereum ETF contributed to the recent spike in Ethereum’s price.
Despite a recent price dip, Ethereum continues to show strength. Ethereum is currently trading at $3,598 as of the writing time. The coin has shown a percentage increase of 13.62% within the last 7 days.
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