Two Dormant Ethereum Wallets Move $785 Million
Two Ethereum (ETH) wallets inactive for over eight years recently moved a total of 200,000 ETH. The value of this transfer is about $785 million. Blockchain analytics firm Lookonchain reported the wallets were originally funded through Bitfinex. This links the activity to early Ethereum participants.
The same entity now controls 736,316 ETH, worth roughly $2.89 billion. These funds are spread across eight wallets. The largest transfers came from wallets 0xbF3 and 0x057. Such large moves from long-dormant wallets are rare and often attract market attention.
These transfers do not confirm any plans to sell. They may indicate custody restructuring, institutional onboarding, or security updates. At the time, ETH was trading at about $3,942. Moves from early holders could impact short-term price trends.
Ethereum Cofounder Transfers $6 Million to Kraken
Ethereum co-founder Jeffrey Wilcke moved 1,500 ETH, worth around $6 million, to Kraken on Thursday. Lookonchain reported the transfer happened as ETH’s price slipped from $4,000 to $3,900. This drew speculation about possible distribution.
Though smaller than whale transfers, the timing attracted attention. On-chain data shows Wilcke still holds hundreds of millions of dollars in ETH across multiple wallets. He remains one of the most influential early Ethereum holders.
Whale Activity Influences Token Markets
Earlier this week, decentralized derivatives platform Aster saw significant whale activity around its ASTER token. The token surged up to 50% in 24 hours. It now has a market cap of $1.52 billion and daily trading volume of $698 million.
The whale transfers suggest ongoing accumulation rather than large-scale selling. This contrasts with typical post-launch behavior where large holders often sell quickly. Meanwhile, the large ETH moves from dormant wallets raise questions about custody changes or upcoming institutional use.
