Two crypto kits move $ 785 million into Ethereum after eight years of inactivity

Two cryptocurrency wallets that have been dormant for more than eight years have been activated and transferred 200,000 ETH worth more than $ 785 million to new addresses. This was reported by Lookonchain analysts.

According to their data, both addresses are associated with an early investor who, at the beginning of Ethereum’s development, ETH $4,131.36 Bridged Ether (StarkGate) 3.52% Market capitalization $96.57 million VOL. 24 hours $1.25 billion received coins through the Bitfinex exchange. He currently controls more than 736,000 ETH across eight wallets, which is about $ 2.89 billion.

User X, who goes by the pseudonym FOMOmeter, commented that such «awakenings» by major players do not necessarily mean the sale of assets. In his opinion, such transactions can cause panic in the market, creating more favorable points for further coin accumulation.

Lookonchain added that the interest of large investors in Ethereum is growing. In the last three days alone, 16 different wallets have received more than 431,000 ETH (over $ 1.7 billion) from platforms such as Kraken, Galaxy Digital, BitGo, FalconX, and OKX.