Dormant Ethereum Wallet Activates After Nearly 10 Years Holding $5 Million

Ethereum is currently consolidating around the $2,500 level with limited momentum. It has struggled to surpass the $2,600 resistance despite recent inflows into Ethereum Spot ETFs.

A significant development is the reactivation of a dormant whale wallet holding 2,000 ETH, which had been inactive for nearly a decade. This wallet's last transaction occurred in 2015 when its value was approximately $620; it is now worth over $5 million, indicating an 820x profit.

Key Events

The dormant address sent a tiny amount (0.0001 ETH) to a new address and subsequently transferred 500 ETH to a Binance-controlled address.
The remaining 1,500 ETH in the original wallet, valued at about $3.8 million, raises concerns about potential selling pressure.
Current trading price of Ethereum is $2,525, with recent fluctuations between $2,549 and $2,495.

This situation could impact Ethereum's ability to break out of its current consolidation phase if additional selling occurs without sufficient buying support.