An Ethereum (ETH) whale is coming alive after lying dormant for over half a decade, according to blockchain analytics platform Santiment.
Santiment says the Ethereum’s whale address moved 15,000 ETH worth $22.2 million at the time of the transaction to an empty wallet after being inactive since October 4th of 2016.
The whale address now has a balance of slightly over 85,000 ETH following the multi-million dollar transfer.
“An Ethereum whale wallet that had not been active for 6+ years woke up today and moved $22.2 million worth of ETH to an empty wallet. ETH’s price is +8.1% since this transaction, briefly jumping over $1,500 for the first time since the merge 6 weeks ago.”
At the time of the whale’s last transaction before coming alive, Ethereum was trading at $13.28. Over the six-year-plus period, the whale’s Ethereum holdings have appreciated by more than 11,300%. Ethereum is trading at $1,527 at time of writing.
Earlier this week, Santiment said that Ethereum whales had moved over 300,000 ETH last week as the second-largest crypto asset by market cap reached a local top.
“Ethereum saw a considerable amount of token shuffling between whale addresses on Thursday, which occurred right at a local top. Seven hours after the move of 320,000 ETH, the price touched down to $1,260, and then bounced considerably ever since.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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