Dormant Ethereum whale moves $145M to Gemini

A dormant Ethereum whale moved 50,000 ETH ($145M) to Gemini after nine years, sparking speculation about selling. The wallet still holds 85,000 ETH ($240M). The market is closely watching for further moves.

A long-inactive Ethereum whale wallet has reawakened after nearly nine years, transferring 50,000 ETH—valued at about $145 million—to the Gemini exchange in two separate transactions. This wallet originally acquired 135,000 ETH from Bitfinex in 2017, when ETH was priced around $90, resulting in a significant gain on the transferred amount. Despite this large movement, the wallet still retains approximately 85,000 ETH, now worth over $240 million, positioning it among the largest individual ETH holders. The transfers have attracted considerable attention within the crypto community, as such actions often hint at potential selling or portfolio rebalancing, though no confirmed sell orders have been reported. This event highlights the impact of early Ethereum investors and the substantial wealth generated by long-term holding. Market participants are closely monitoring the situation for any influence on Ethereum’s price and broader market trends, especially amid a recent uptick in activity from reactivated long-term wallets.