“Dormant for over 8 years, an Ethereum wallet emerges to stun the crypto world with an unprecedented 517,000% profit, proving the potential for astonishing gains in the volatile digital currency market.”
Recently, an Ethereum ICO participant who had been inactive for 8.2 years reemerged and moved 2,000 ETH worth $3.2 million to four different addresses. Whale Alert, a real-time blockchain data tracer, announced the activation of the dormant pre-mine address. This news has sparked speculation among commenters that there may be a pump in the Ethereum market soon.
Lookonchain also discussed the dormant Ethereum wallet, revealing that the wallet holder was an Ethereum ICO participant who acquired 2,000 ETH at a total cost of around $620. The wallet was created during the ongoing Ethereum ICO in 2015 when the ETH ICO price was approximately $0.31 per ETH. The wallet holder transferred all 2,000 ETH to four separate addresses.
In other Ethereum news, developers are teasing the release of Devnet #10 as they prepare for the Deneb-Cancun upgrade. Devnet #10 is expected to be the last devnet before the upgrade release on public Ethereum testnets. The Ethereum Foundation’s DevOps engineer, Barnabas Busa, hinted at the dependency on client teams for new software releases, suggesting that once the software is ready, Devnet #10 could launch.
Additionally, Ethereum’s price has seen positive movement, rising from $1,606 to $1,632 in the last 24 hours. It is currently the second-largest cryptocurrency by market capitalization and the leading altcoin of 2023. However, recent data shows that big cryptocurrency investors, who have less than 1 million ETH in their wallets, now own 32.3% of the total Ethereum in circulation. This is a trend that hasn’t been seen since 2016. Santiment, a company that analyzes on-chain data, also noticed an increase in high-value transactions on the Ethereum network.
As always, it’s important to conduct thorough research before investing in any cryptocurrency or service. Stay updated with the latest Crypto, NFT, and Metaverse news by following us on Twitter @thevrsoldier.
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