Altcoin Wallet, Sleeping for Years Awakens: What Does It Mean?

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Ethereum A wallet that participated in the initial coin offering (ICO) of the protocol has become active again after an eight-year hiatus. Etherscan data shared by Lookonchain shows that this wallet address has been reawakened with a large amount of ETH tokens. is showing.

He sent 1 ETH to a new address to ensure wallet address activity. During the ICO period, the wallet received a total of 2,365 tokens during the public sale, priced at around $0.31 at the time.

This address has stored the tokens for years and is currently worth roughly $4.42 million. While the reason for its re-activation remains unclear, it can be concluded that the address is interested in staking tokens as Ethereum as a network now allows for such investments, as most institutional investors currently do.

Another prediction is that the address will sell its assets, but this is not a very strong possibility. As Koinfinans.com reported, Ethereum managed to record a peak price of $ 4000.

Ethereum Wallet Awakens

There may be different reasons for reawakening the wallet, but confidence in Ethereum’s potential to reach new highs remains a good motivation as the Shapella upgrade is active.

ETH price It started the week with a largely bearish bias and is currently trading at $1,846. A drop of more than 11% in the last seven-day period is considered bad for the coin, but could mean an oversold move that could attract more investors to hoard the cryptocurrency.

You can follow the current price action here.


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