Ethereum Wallet Springs to Life After 8.5 Years of Dormancy

On February 27, a wallet containing 238 ETH ($776,000 at the time of writing) became active after 8.5 years of inactivity.

? A dormant pre-mine address containing 238 #ETH (771,893 USD) has just been activated after 8.6 years!https://t.co/Py2J5EO1T8

— Whale Alert (@whale_alert) February 27, 2024

The user transferred 1 ETH to a new address, incurring a fee of $3.37.

The address acquired its coins during the Ethereum ICO at a price of $0.31.

At the time of writing, the price of ETH is $3262, according to CoinGecko. The daily increase is 6.5%.

Last week, another unknown user transferred 1732 ETH (~$5.15 million) to the Kraken exchange after 8.5 years of inactivity.

Earlier, analysts at Amberdata stated that Ethereum will outpace Bitcoin in growth due to its fundamental advantages.

The deployment of the Dencun upgrade on the Ethereum mainnet is scheduled for March 13.