An Ethereum wallet that sat dormant for 11 years has been reactivated, moving 2,000 ETH worth approximately $3.79 million at current prices.
The wallet dates back to Ethereum's pre-mine era and originally held ETH valued at just $620 when funded in 2015. Blockchain tracker Whale Alert first reported the activation. This is the first known awakening of a dormant pre-mine address since June.
Recent Activity in Early Ethereum Wallets
Several similar reactivations have occurred over the past few months. In late April, a pre-mine wallet containing 10,000 ETH, worth nearly $22.9 million at the time, was activated after nearly 11 years of inactivity. Additional wallets holding 2,000, 790, and 400 ETH also resumed activity in May. Early in the year, dormant wallets with 401 and 99 ETH became active in March and February respectively.
This resurgence is not exclusive to Ethereum. Whale Alert monitored two ancient Bitcoin wallets holding 2,100 BTC and 500 BTC that had been untouched for over 13 and 12 years reactivating earlier this year.
Meanwhile, institutional investors continue to increase holdings. Bitmine acquired 7,430 ETH last week, bringing its total to 5.78 million ETH. The company has 4.91 million ETH staked, with an Ethereum treasury valued at around $10.9 billion. Including other assets, Bitmine's crypto and cash reserves reach approximately $11.5 billion.
Ethereum's market price currently trades near $1,900 per ETH.
This material is for informational purposes only and does not constitute financial advice.
