Ancient Ethereum Whale Stirs After 11-Year Hibernation, Unlocks Treasure Trove of 750 BTC

IconCryptoNewsTerminal Staff25 Jul, 2024

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Ancient Ethereum Whale Stirs After 11-Year Hibernation, Unlocks Treasure Trove of 750 BTC

A dormant Ethereum address has awakened from an 11.2-year slumber, unleashing a treasure trove of 750 Bitcoin (BTC) worth approximately $14.9 million. According to Whale Alert, a blockchain transaction tracking service, the address, which has been inactive since 2011, was activated approximately five minutes ago. The sudden movement of such a massive amount of BTC has sent ripples through the cryptocurrency community, sparking speculation about the identity of the whale behind the address and their motives for releasing the funds after such a prolonged period. Some experts believe that the whale may have been an early adopter of Bitcoin who has been holding onto their investment since its inception. Others speculate that it could be a large institution or a cryptocurrency exchange that has been safeguarding the funds for its users. Whatever the case may be, the awakening of this dormant whale is a reminder of the long-term potential of Bitcoin and the transformative power of blockchain technology. ```

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