Historic Ethereum Wallets Reactivate, Fueling Whale Activity Speculation

Their awakening coincides with a broader trend in crypto: long-dormant wallets, both Ethereum and Bitcoin, springing into action. Just days ago, three Bitcoin wallets inactive since 2010 moved billions in assets, and earlier this year, more than $40 million in Satoshi-era Bitcoin resurfaced.

Ethereum’s rise in value adds to the intrigue. Since these two wallets were created, ETH has appreciated by over 89,000%, rising from just a few cents to more than $2,500. The Ethereum network itself has evolved dramatically, transitioning from proof-of-work to proof-of-stake and rolling out major upgrades like The Merge and, more recently, the Pectra update.