Two large Ethereum wallets that had remained inactive for over eight years recently became active and made a significant transfer of 200,000 ETH. At the time of the transaction, this amount was worth over $785 million. Both wallets sent the funds to new addresses, sparking lively discussions in the cryptocurrency community.
This is reported by Business • Media
The ETH Transfer is Linked to an Early Bitfinex User
Analysts report that these addresses belong to a so-called Ethereum OG — one of the first ETH holders who primarily acquired coins through the Bitfinex exchange. He currently controls over 736,000 ETH, equivalent to approximately $2.89 billion, spread across eight different wallets.
The event has generated a wave of comments on social media. User X, under the nickname FOMOmeter, believes that such transactions do not necessarily indicate an intention to sell assets but may be an attempt to influence the market.
“Sleeping whales move not to sell, but to scare. Such transfers sow fear in the crowd, and this panic creates cheaper entry points for real accumulation.”
Activity Among Large Ethereum Holders is Increasing
In the past three days, there has been a surge in interest from large investors. Analysts note that 16 new wallets have received over 431,000 ETH (more than $1.7 billion) from various crypto platforms, including Kraken, Galaxy Digital, BitGo, FalconX, and OKX.
This is not the first instance of so-called sleeping whales becoming active: recently, another large Ethereum holder moved 11,104 ETH after about eight years of inactivity, which also attracted the attention of experts and the community.