With the Federal Reserve’s recent decision to cut interest rates by 50 basis points, the cryptocurrency market is experiencing a resurgence. Bitcoin surged past $64,750, and Ethereum approached $2,700, signaling the end of a prolonged period of uncertainty. As prices rise, many ancient crypto whales, long dormant, are reawakening, prompting speculation about the market’s future. Some analysts suggest this could be the last bull market for retail investors.
The Awakening of Ancient Whales
Odaily Planet Daily reports a wave of activity among long-silent crypto whales. This article examines several significant players who have recently surfaced.
Ethereum Ancient Whale No. 1
This whale received 1 million ETH during the ICO, averaging $0.31 per ETH. Despite Ethereum’s slower growth relative to Bitcoin this year, its market influence remains substantial.
Activity Timeline:
June 8: Initiated transfers, sending 5 million USDC to an OKX address.
July 12: Transferred 4,500 ETH to a multi-signature wallet, followed by additional large transfers totaling 48,963 ETH sold for $155 million by early September.
September 22: Sold another 491 ETH. Since July, this whale has sold a total of 52,794 ETH, amounting to $164 million.
Main Tracking Address: 0xe17E2774c8B2453172Fb3b44E9F822c718fa0Ab7
Ethereum Ancient Whale No. 2
This whale received 150,000 ETH at the same average price of $0.31. After two years of inactivity, it sold 10,000 ETH in three days for $35.39 million.
Recent Activity:
On September 23, sold 3,510 ETH for $9.12 million.
Currently holds 71,490 ETH across five addresses, valued at around $187 million.
IC0 Address: 0xb8cc0f060aad92d4eb8b36b3b95ce9e90eb383d7
Ethereum Ancient Whale No. 3
This whale participated in the ICO, obtaining 310,000 ETH and receiving 100,000 ETH from the DAO refund in 2016.
Recent Activity:
On September 18, deposited 4,000 ETH into Kraken, possibly for sale.
Main Tracking Address: 0xdDf744374B46Aa980ddcE4a5AA216478bf925cD1
Ethereum Ancient Whale No. 4
This whale acquired 16,636 ETH at $5.23 in February 2016.
Recent Activity:
On September 16, transferred 16,636 ETH, later selling 350 ETH.
Tracking Address: 0xE3E5540B029d4662F6E99a5Af3E8b431Cff59566
Bitcoin Genesis Mining Whales
Even Bitcoin’s early miners are becoming active again. Recently, five dormant wallets from 2009 transferred 250 BTC—valued at $15.9 million. These addresses received Bitcoin as mining rewards during the cryptocurrency’s early days.
Market Implications
The resurgence of these ancient whales coincides with a broader market uptick following the Fed’s interest rate cut. While the short-term outlook seems positive, concerns about a potential economic recession persist. This duality could lead to ongoing sell-offs among crypto whales, including notable figures like Shenyu, who recently moved 85.6 WBTC to Binance.
Conclusion
As the cryptocurrency market fluctuates, the actions of these ancient whales could significantly influence price trends. Many believe we are witnessing a pivotal moment that could shape the future of retail investing in crypto. With upcoming U.S. elections on the horizon, it remains to be seen whether this upward trend will sustain or if a wave of selling pressure will emerge from the whales.
Original title: “9 ancient whales awaken, hinting at the last round of crypto bull market?”
Original author: Wenser, Odaily Planet Daily
Original link
source
