There has been a new “awakening” of a Satoshi-era crypto wallet. This time, with Ethereum (ETH)
✍️ 22 January, 2024 - 10:58 👤 Editor: Jakub Motyka
- A Satoshi-era Ethereum (ETH) wallet, dormant for over 8 years and containing 133 ETH, has recently been activated, joining several other pre-mining wallets that have also resumed activity after long periods of inactivity.
- These "awakenings" of old wallets have generated speculation in the crypto community, although their impact on the liquidity and volatility of the ETH price is considered negligible due to the size of the transactions.
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A Ethereum (ETH) wallet from the Satoshi era has recently been activated, attracting the attention of the crypto community due to its long period of inactivity.
Whale Alert, the popular large-scale crypto transaction tracker, reported that a pre-mining address containing 133 Ethereum (ETH), valued at approximately $329,492, has been activated again after being inactive for 8 and a half years.
The mysterious reactivations of dormant crypto wallets from the Satoshi era
This activation is not an isolated incident. In recent months, several Ethereum pre-mining addresses that had been inactive have also been reactivated.
For example, Whale Alert reported on January 14 that a wallet with 200 ETH (valued at $506,140) resumed activity after more than 8 years old.
Similar "awakenings" were also observed on December 23, 2023, with a wallet containing 11,640 ETH ($26.5 million) activating after more than 8 years, and on October 21, 2023, a wallet with 2,000 ETH (3.2 million dollars) also reactivating after just over 8 years.
These reactivations have generated discussions and speculation within the cryptocurrency community, as they represent significant movements within the Ethereum (ETH) blockchain.
Why these wallets are now "awakening"
Pre-mining addresses refer to wallets containing cryptocurrencies mined before the public launch of the blockchain. The sudden activation of such wallets, which have been dormant for almost a decade, raises questions about the motives behind these transactions.
Speculations range from homeowners regaining access to lost keys to strategic financial moves influenced by current market dynamics.
The reappearance of these portfolios could also be related to long-term holders (often called "HODLers" in the crypto world) deciding to leverage their investments or diversify their portfolios in response to the changing cryptocurrency landscape.
In any case, these transactions are usually too small to potentially impact the liquidity and price volatility of Ethereum (ETH).
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