Two Ethereum whales start moving ETH after 5 years of inactivity

According to Lookonchain analysts on Twitter, two inactive Ethereum addresses have started moving their funds. The whales have not used their ETH savings for 5 years, but on December 18, they made 2 transactions.

There are 2 addresses that have been dormant for 5 years woke up 13 hours ago and transferred 22,983 $ETH($ 27.34M) out.https://t.co/sVyDLL4wi1https://t.co/FDpiOoRyZg pic.twitter.com/P87c7daIIg

— Lookonchain (@lookonchain) December 19, 2022

As it became known, investors transferred 22,983 ETH in total, which at the time of writing is more than $ 27 million. Both whales have moved their holdings to newly created wallets, but analysts do not know what will happen to the funds and why such transactions were necessary.

These are not the only large transfers in ethereum over the past day, as blockchain tracker Whale Alert reported the transfer of 23,758 ETH worth about $ 28 million from Bitfinex to an unknown wallet. Also, according to Lookonchain, a few hours ago, the bankrupt Three Arrows Capital (3AC) platform withdrew 2,000 ETH (about $ 2.38 million) from Binance. At the time of writing, the 3AC address still holds 6595 ETH (about 7.85 million) on Binance.

It is worth noting that in early December, cryptocurrency whales resumed investing in Ether for the first time after the FTX bankruptcy. According to a report by Santiment, the number of wallets with a balance of 100 to 100,000 ETH reached a 20-month high at that time. It is the whales that periodically provoke rebounds and falls in digital assets. User activity in the Ethereum network has also increased, with the number of addresses sending and receiving funds daily reaching 500,000 on December 2 for the first time since October 15.