An Ethereum that has been dormant for a long time$ETH
whale reactivated after 9.4 years, moving 1,940 ETH. This transaction is worth millions of dollars and, combined with the increasing whale activity on Ethereum and ETF investments, indicates significant movement in the crypto market. Blockchain analysis platform Whale Alert announced that an Ethereum whale, which had been silent for about 9.4 years, has become active again. This wallet contains 1,940 ETH obtained from Ethereum’s ICO in 2014. These assets, which were worth about $ 601 at the time, have increased in value by 1,092,728%, reaching $ 6.5 million today.
This week, whale activity on the Ethereum network reached remarkable levels. 15,000 ETH was withdrawn from Binance, worth around $50.7 million. In addition, a large transfer of 47,534 ETH was made between two anonymous wallets, worth $164.9 million.
Ethereum’s market performance has been volatile lately. The cryptocurrency fell 5% from $3,495 to $3,320 in the past two days before recovering slightly to $3,420. In the big crash at the beginning of the month, Ethereum lost 22% from $4,026 to $3,102.
On the other hand, BlackRock’s spot Ethereum ETF (ETHA) has been a strong performer this week, bringing in $44 million inflows. The same company’s Bitcoin ETF (IBIT) followed an opposite trend with $188 million outflows. The rapid trading of Ethereum ETFs after they received SEC approval in May has increased investor interest, providing a positive development for Ethereum.