A long dormant wallet containing huge amounts of Ethereum (ETH) was activated a few years later. Crypto whale watching platform Whale Alert reported that the address containing a total of 200 ETH was activated after seven years and two months.
Whale Alert states that the funds in the wallet appeared before the official launch of Ethereum. noted. When ETH coins were mined at that time, they had almost no value. Interestingly, while the cryptocurrency price has risen over the years, 200 ETH is now worth $282,115.
💤 A dormant pre-mine address containing 200 #ETH (282,115 USD) has just been activated after 7.2 years!https://t.co/aIMHP6Peml
— Whale Alert (@whale_alert) October 25, 2022
The owner of the address could have benefited from the last bull run as Ethereum was trading at $4,800. However, 200 Ethereum coins in the wallet are still worth a fortune at the current $1,468 ETH exchange rate.
At this time, the owner of the address is unknown and it is unclear why the funds were reactivated after several years of inactivity. However, some crypto investors believe that its holder may sell a large portion of the cryptocurrency in the coming days.
Ethereum Is Not The First
Many investors put their crypto assets dormant for years. Sometimes, the rationale behind this action is to hold the asset until its price rises. Other times, a crypto address may go dormant due to unforeseen circumstances.
However, this has happened many times before. Earlier this year, a dormant address containing 100 Bitcoins was reactivated after more than 12 years.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.