The reactivation of a major Ethereum wallet, which has been dormant for nearly nine years, has once again turned the spotlight on “long-term whales” in the cryptocurrency market. On-chain data revealed that a single address processed millions of dollars of Ether transfers, and these transactions were directed to a central exchange. The development coincides with both the recent weakness in the Ethereum price and similar whale movements seen on the Bitcoin side. Market participants are closely monitoring the possible effects of these transfers.
Ethereum Transfer Coming After Nine Years of Silence
According to on-chain analysis, a long-inactive Ethereum whale mined a total of 50 thousand ETH on Sunday. Gemini transferred to the stock exchange. The transfer, worth approximately $145 million, was made in two separate transactions on the same day. In the first stage, 25 thousand ETH was sent, hours later the same amount was transferred a second time. transactions, Arkham Intelligence based on data EmberCN Reported by.
It was stated that the wallet address in question has not made any transactions since 2017. At that time, your address was Bitfinex It was stated that he withdrew approximately 135 thousand ETH from the stock exchange and the assets were approximately 12.17 million dollars at that day’s prices. This withdrawal, made at a time when Ether was trading around $90, points out how low cost early investors were taking positions.
After the last transfers, there is still approximately 85,283 ETH in the wallet. Considering current prices, this balance corresponds to a value of hundreds of millions of dollars. The high-volume transfer to a central exchange brought about discussions about the possibility of sales in the market.
Whale Movements and Its Effect on Market Pricing
This development on the Ethereum side coincided with a similar activity observed in the Bitcoin network. A Bitcoin address that had been inactive for nearly 13 years moved 909 BTC to a new wallet last week. The market value of the amount in question was calculated as approximately 84 million dollars. Addresses that have remained silent for a long time are being closely monitored in terms of market psychology when they start trading again.
On the price front, Ether continues to remain under pressure. According to CoinMarketCap data, ETH lost 2.8 percent in value in the last 24 hours, falling to the level of $ 2,859. in the same time period Bitcoin Its price decreased by 1.43 percent and was traded at $87,611. Although the impact of large-scale transfers on short-term price movements is not always direct, market participants re-evaluate risk perception through such signals.
Analysts emphasize that the behavior of long-term whales alone will not be decisive, but may increase volatility in periods when liquidity is weak. Transfers, especially to central stock exchanges, cause investors to take cautious positions.
