Ethereum: Old Wallet With 61,200 ETH ‘Activated’ After 8 Years

Lavina Daryanani
Source: Finbold

An old Ethereum wallet has been activated after remaining dormant for a period of eight years. Via a recent tweet, blockchain transaction tracker, Whale Alert, brought to light that the “pre-mine” address had a balance of more than 61,200 ETH worth $116.3 million.

Data from Etherscan revealed that the wallet has participated in a total of 51 transactions since inception. Only two of them have been “out” transactions. The first one took place around 7.5 hours back. At that time, 0.05 ETH was sent out, possibly as a test transaction. After it got successfully executed, the address then sent out 61,216.45 ETH, a few minutes later.

Around 2910 days [around 8 years] back, the wallet took part in Ethereum’s ICO and received the major chunk of its tokens. A couple of other inflow transactions were registered after that, but they were not significant. One involved merely 0.000011 ETH, while in the other, only 911 Wei was transferred. For context, Wei is the smallest denomination of ETH. One Ether = 1,000,000,000,000,000,000 Wei. Most other “in” transactions were registered after the wallet came out of its dormancy today.

Source: Etherscan

After the latest transfers, the wallet’s Ethereum balance dropped to merely 0.1019685 ETH. At the press time value of $2912.87, the holdings were worth less than $200.

Source: Etherscan

Also Read: Ethereum: Users Holding 1000+ ETH, Drops to 5-Year Low

Ethereum dormant supply peaks

The aforementioned wallet was a pre-mine address. So, does this mean that other old wallet holders have also started to empty their balances? It does not seem so. The macro trend looks promising. The 7-10 year dormant ETH supply has been on the rise. In fact, data from Glassnode brought to light that the metric attained an all-time high of 3,963,832.211 ETH a few hours back. The concrete positive trend on this front highlighted the conviction of this set of long-term holders.

Source: Glassnode

Also Read: Bitcoin: This Could Be Investors’ ‘Golden Chance’ to Buy BTC