Dormant Ethereum Wallet Awakens After 10 Years With Millions Worth Of ETH
Ethereum is consolidating around the $2,500 price level, struggling to break above the $2,600 resistance despite recent inflows into Ethereum Spot ETFs. A dormant whale wallet, inactive since 2015, has reactivated, raising concerns about potential selling pressure. This wallet, which held 2,000 ETH, initiated its first transaction in nearly a decade, transferring 0.0001 ETH to a new address and later sending 500 ETH to a Binance-controlled address, suggesting possible liquidation. The original wallet still holds approximately 1,500 ETH, valued at about $3.796 million, leading to speculation about further sales. Current trading for Ethereum is at $2,525, with fluctuations between $2,549 and $2,495 in the past 24 hours. Increased selling from the whale could hinder Ethereum's ability to escape its consolidation phase if buying pressure remains insufficient.
