Ethereum ICO Giant Awakens After 8 Years, Reaps Massive 12,971x Return
Activity Detected from Long-Inactive Ethereum Wallet, Revealing a Massive Profit from 20,000 ETH Held Since Initial Coin Offering
Key Points
- An inactive Ethereum whale has suddenly become active, depositing 1,500 ETH into the Kraken exchange.
- The Ethereum stash, acquired for $6,200, is now worth roughly $80.48 million.
A blockchain analytics platform has identified an inactive Ethereum whale that has suddenly sprung into action. This whale has been dormant for nearly 8 years with a stash of 20,000 ETH.
Resurgence of a Dormant Ethereum Whale
On October 29, it was reported that the whale reactivated their wallet after 8 years of dormancy. The whale was observed depositing 1,500 ETH, equivalent to $6 million, into the Kraken cryptocurrency exchange. This marks the first time the whale has made a transfer since receiving 20,000 ETH.
At the time of purchase, the Ethereum holdings were bought for around $6,200. Currently, Ethereum is trading at $4,019.11, having experienced a 2.62% dip in the last 24 hours. The stash is now valued at approximately $80.48 million. This means that the whale has seen a 12,971x return by holding onto Ethereum for 8 years. The reason for the sudden activity remains unknown.
Ethereum Attracting Investors
Interestingly, Ethereum is showing a strong rebound and attracting more investors, even more than Bitcoin. Despite failing to break past the $4,250 resistance in recent days, market analysts remain optimistic about a potential rebound.
Market analyst Ted Pillows noted that Ethereum’s price action is indicative of a “strong bounceback.” He suggested that this positive sentiment could push Ethereum’s price into the $4,200-$4,300 range in the short term. In mid-October, Pillows acknowledged that the bulls had successfully reclaimed the $4,060 support level for Ethereum.
He pointed out that the asset was showing a V-shaped recovery pattern at the time, which is considered a bullish signal indicating strong market momentum. Pillows identified $4,250 as the next crucial resistance level for Ethereum, stating that a breakout above this level could potentially put the bulls back in control of Ethereum’s short-term trend.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Savers Confront a Choice: Lock in Safe 5% Returns or Chase DeFi's Tempting 12%
- Fed rate cuts in 2025 spurred high-yield savings accounts offering up to 5.00% APY, outpacing traditional banks' 0.40% average. - DeFi platforms like ZEROBASE and Maple Finance offer 12-7% APY on stablecoins, but require higher risk tolerance and short liquidity periods. - Banks may reduce APYs if further Fed cuts occur, while FDIC-insured high-yield accounts remain popular for inflation protection. - Alternative assets like Bitcoin and dividend stocks (e.g., Viper Energy's 3.49% yield) show growing comp

Bitcoin News Update: Institutions Remain Wary as Retail Investors Drive Crypto Innovation—The Battle for Dominance Escalates
- Bitcoin fluctuates near $110,000 amid ETF outflows and revised institutional price targets, with long-term holders creating resistance through strategic BTC distributions. - Ethereum and XRP show resilience with ETF inflows and whale activity, while emerging projects like Remittix ($27.8M raised) and Noomez gain traction through innovative tokenomics. - Analysts remain divided: some see $120,000 potential if Bitcoin breaks key averages, while others warn of $72,000 corrections amid macroeconomic uncertai

Sanctions or Stability: South Korea Considers How to Address North Korea's Cryptocurrency Threat
- South Korea may reconsider sanctions against North Korea amid a $3B crypto theft linked to Pyongyang's nuclear funding, as U.S. Treasury targets 10 entities/individuals for laundering stolen digital assets. - North Korea condemns sanctions as "hostile" U.S. tactics, deepening ties with Russia while rejecting dialogue, despite Trump's openness to resuming talks with Kim Jong Un. - Blockchain analysis reveals $3B in crypto stolen by groups like Lazarus since 2022, with Australia joining U.S. sanctions agai

Aster News Today: CZ's ASTER Surge Sparks Intense Bull and Bear Showdown at the $1.29 Threshold
- Binance's CZ triggered a 40% ASTER token surge via a $2.5M purchase, but the altcoin later corrected 15% amid classic "pump and dump" dynamics. - Whale entities netted $7.7M from short positions as ASTER's $1.25 peak collapsed, highlighting crypto's volatility and speculative risks. - CZ defended decentralized market mechanics while analysts noted ASTER's critical $1.29 breakout threshold amid broader crypto turbulence and regulatory pressures.

