Blockchain tracking platform Whale Alert, known for monitoring large cryptocurrency transactions, has detected the awakening of an ancient “whale” holding millions of dollars worth of Ethereum ($ETH ). Whale Alert revealed that this wallet, originally an Ethereum mining address, became active again after 9.4 years and currently holds 1,940 ETH.
Massive Profit Gains
According to analysis from Lookonchain, this whale was among the participants in Ethereum’s Initial Coin Offering (ICO). The wallet received 1,940 $ETH from the Ethereum Genesis block in 2014. Back then, this amount was worth only $601. However, with the current valuation, the whale now possesses an asset worth $6.5 million—a staggering growth of 1,092,728%.
Ethereum Whale Activity Intensifies
This week, Ethereum whale activity has remained robust. On Thursday, Whale Alert reported several major transactions, including the withdrawal of 15,000 $ETH from Binance, the world’s largest cryptocurrency exchange, and a transfer of 47,534 ETH between two anonymous wallets. These transactions were valued at $50,710,678 and $164,899,942, respectively.
Ethereum Market Performance
Over the past two days, the price of Ethereum, the second-largest cryptocurrency, dropped approximately 5%, falling from $3,495 to $3,320. However, $ETH has since seen a slight recovery, currently trading at $3,408. Earlier this month, Ethereum experienced a significant drop of 22%, from $4,026 to $3,102, reflecting a broader cryptocurrency market decline following Federal Reserve Chair Jerome Powell’s announcement of a tapering monetary policy for the upcoming year.
Ethereum ETF Gains Traction
This week, BlackRock’s spot Ethereum ETF, iShares Ethereum Trust ETF (ETHA), saw larger inflows compared to the company’s spot Bitcoin ETF. On Tuesday, ETHA recorded total inflows of approximately $44 million, while iShares Bitcoin Trust ETF (IBIT) faced outflows of $188 million on the same day. Spot Bitcoin ETFs were approved by the U.S. Securities and Exchange Commission (SEC) in January after nearly a year of review, while Ethereum spot ETFs received approval in May and began trading two months later.
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