Two large Ethereum wallets that had been inactive for over eight years unexpectedly executed significant transactions — 200,000 ETH were transferred. At the time of the transfer, the assets were valued at over $785 million. This move sparked lively discussions in the crypto community.
This is reported by Finway
The Return of ‘Sleeping’ Wallets and the Role of Early Investors
According to the analytics platform Lookonchain, the addresses from which the transfer was made are linked to the so-called Ethereum OG — one of the first investors who primarily accumulated assets through the Bitfinex exchange. Currently, this player controls over 736,000 ETH across eight different wallets, equivalent to approximately $2.89 billion.
“Sleeping whales are moving not to sell, but to instill fear. Such transfers sow panic in the crowd, and this panic creates cheaper entry points for true accumulation.”
Growing Interest from Large Investors in Ethereum
As indicated by Lookonchain data, large players have continued to accumulate Ethereum over the past three days. During this period alone, 16 wallets received over 431,000 ETH (more than $1.7 billion) from leading cryptocurrency platforms such as Kraken, Galaxy Digital, BitGo, FalconX, and OKX. This confirms the increasing activity of institutional investors and a new phase of accumulation in the ETH market.
We remind you that recently another crypto whale moved over 11,000 ETH after nearly eight years of inactivity.