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A pre-mine Ethereum address with 500 ETH, worth approximately $631,500 at the time of writing, has apparently been activated, according to data provided by Whale A dormant Ethereum wallet that held onto its Ether holdings for three years is now dumping them, indicating a growing cautious sentiment among the most hardcore crypto Ethereum price could face new downside pressure as hundreds of crypto wallets that have been dormant for more than three years suddenly transfer huge amounts of An Ethereum whale address holding 500 ETH has suddenly made a move after over seven years. Data from Whale Alerts shows that the wallet address is from the “pre “A dormant pre-mine address containing 500 ETH (631,500 USD) has just been activated after 7.3 years!” tweeted Whale Alert. According to Whale Alert, the funds in the wallet were pre

Dormant Ethereum Wallet Awakens: 500 ETH Moves After 7.3 Years! An Ethereum whale address holding 500 ETH has suddenly made a move after over seven years. Data from Whale Alerts shows that the wallet address is from the “pre-mine”. This significant event raises questions about potential market impact and the intentions behind the transfer.

Why Did This Dormant Ethereum Wallet Move 500 ETH?

The activation of this dormant Ethereum wallet, containing 500 ETH (worth approximately $631,500 at the time of writing), has caught the attention of the crypto community. “A dormant pre-mine address containing 500 ETH (631,500 USD) has just been activated after 7.3 years!” tweeted Whale Alert. According to Whale Alert, the funds in the wallet were pre-mined. This suggests the owner acquired the ETH very early in Ethereum's history.

Possible reasons for the wallet's activation range from a long-term holder finally deciding to cash out to strategic portfolio rebalancing. Some analysts suggest that the event might be related to a growing cautious sentiment among some of the earliest crypto investors. A dormant Ethereum wallet that held onto its Ether holdings for three years is now dumping them, indicating a growing cautious sentiment among the most hardcore crypto investors.

Potential Market Impact of the 500 ETH Transfer

While 500 ETH isn't a massive amount in the grand scheme of the Ethereum market, sudden movements from long-dormant wallets can sometimes trigger volatility. Ethereum price could face new downside pressure as hundreds of crypto wallets that have been dormant for more than three years suddenly transfer huge amounts of ETH.

The pre-mine status of the wallet adds another layer of intrigue. A pre-mine Ethereum address with 500 ETH has apparently been activated, according to data provided by Whale Alert. It's crucial to monitor where these funds end up to gauge the potential influence on Ethereum's price and market sentiment.

We will continue to monitor this developing story and provide updates as they become available. Stay tuned for further analysis on the implications of this significant Ethereum transaction.

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