A “sleeping” Ethereum wallet for 9 years just executed a series of large transactions, transferring 250.5 million USD worth of ETH to the Gemini exchange today, bringing the total ETH transferred to exchanges this week to approximately 397 million USD.
According to data from Arkham Intelligence, the wallet address “0xb5a…168d6” sent 85,283 ETH to Gemini’s deposit address via two transactions at 10:19 and 11:33. Previously, this wallet had transferred 50,000 ETH to the exchange earlier this week. Thus, the entire 135,284 ETH held by the wallet — worth about 397 million USD — was moved after nearly a decade of inactivity. Currently, this address holds only about 70 USD in various altcoins.
On-chain analyst EmberCN stated that the ETH was accumulated since 2017 through the Bitfinex exchange, at an average price of around 90 USD per ETH. This means the wallet owner has realized an estimated profit of about 385 million USD from holding ETH for nearly 10 years. At the same time, ETH’s price increased by 2.45% to 2,937 USD, while Bitcoin rose by 1.46% to 88,676 USD.
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