A long-dormant Ethereum wallet has stirred market interest by transferring 50,000 ETH, valued at approximately $145 million, to the Gemini exchange after nearly nine years of inactivity. The wallet, which had been inactive since 2017, executed the transfer in two separate transactions of 25,000 ETH each. This activity has drawn attention due to the rarity of such movements from early Ethereum holders. The wallet, identified as "0xb5…Fb168D6," originally withdrew 135,000 ETH from Bitfinex in 2017 when ETH was priced around $90. The recent transfer to Gemini suggests a strategic approach rather than a full liquidation, as the wallet still retains 85,283 ETH. While the move to an exchange often signals potential selling, it may also indicate the use of Gemini's custody services or other strategic purposes. Following the transfer, Ethereum's price saw a 2.8% decline, trading near $2,859.
Dormant Ethereum Whale Transfers $145M to Gemini After 9 Years
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