Following the US SEC’s approval of its ETF for trading, an Ethereum ICO wallet that has been inert for nine years has been reactivated.
Another dormant Ethereum ICO behemoth has resumed activity amid anticipation of the spot ETH ETF launch following the United States Securities and Exchange Commission (SEC) approval.
Rebirth of Ethereum ICO Wallet: Positive Key Metrics
Whale Alert, a blockchain wallet tracker, has detected activity from an Ethereum ICO wallet that was last active nine years ago. This wallet contained 977 ETH, equivalent to approximately $3.4 million at the current market price of Ethereum ($3,490.25).
It is important to note that the altcoin was scarcely trading at $1 during the ICO. This price implies that this whale fund has profited significantly. The reason for the abrupt reawakening is unknown; however, this has been a recent trend among dormant crypto wallets.
An inert Ethereum wallet from the same era was reactivated last month, securing 6,000 ETH. Because the reawakening occurred when Ethereum’s price was $3,642, these Ethereum were valued at $21.9 million. These wallets are vacating their market positions upon reactivation. It is being conjectured that the Ethereum ICO wallet’s activity has not affected the Ethereum ecosystem.
The altcoin’s key metrics are still in excellent shape, likely due to the imminent arrival of spot Ethereum ETFs. In addition to the price of ETH being on the brink of reaching $3,500, the coin’s trading volume is also on a favorable trajectory.
The transaction volume of Ethereum has increased by over 50% in the past 24 hours. Significantly, the coin is presently the third-largest traded per position, with a trading volume of $18,742,590,373. Its market capitalization remains at $419,424,797,668, ensuring it remains the second-largest cryptocurrency.
Dormant Bitcoin addresses are reactivated
An increase in the number of dormant Bitcoin wallets that have reemerged has also been observed. Last Monday, a wallet that had been inactive for ten and a half years and contained 25 BTC abruptly exhibited signs of activity. Upon arriving in the wallet in 2013, these 25 Bitcoin units were valued at approximately $20,399. The subsequent appraisal placed their value at $1,576,085.
This value implies that the previously inert Bitcoin wallet proprietor generated a profit of 7,597%. A 10,419% profit was recorded for an additional 10-year-old dormant wallet.
This value indicates that many individuals who invested in Bitcoin during the Satoshi era and have maintained their holdings are currently experiencing substantial profits.
