A "dormant" Ethereum whale has suddenly become active again, drawing attention as Ethereum's price surges amid the market turmoil. 🐋 According to Lookonchain, the whale has accumulated 398,889 ETH since 2016 at an average price of just $6 per ETH. After more than 8 years of silence, on November 7, 2024, the whale began selling 73,356 ETH, now worth $224.42 million, reducing his balance to 325,533 ETH.

Although Ethereum has increased by 30% over the past month, the price has yet to surpass the $3,500 mark, well below the $4,800 peak in 2021. This could prompt the whale to sell, reflecting skepticism about ETH's short-term potential.

Meanwhile, a report from CryptoQuant shows strong growth in the Ethereum derivatives market, with open interest surpassing $13 billion, up 40% over the past four months. This reflects growing investor participation in the ETH derivatives market. 📈