A dormant Ethereum whale came back to life in the middle of Christmas Eve. The activity was detected by the platform Whale Alert, which also indicated that the whale had remained inactive for a decade. After an initial test transaction, the holder transferred 1,999 ETH in several tranches to a new address, consolidating an astronomical gain of 944,992% from their original $620 investment in 2015.
The awakening of this “sleeping whale” occurs during a period of low holiday liquidity, which increases price sensitivity to large volumes. Having lived through multiple boom-and-bust cycles, this ICO-era wallet reappears just as the market presents thinner order books, amplifying the potential impact of any liquidation.
Now, the market will be watching closely to see if the funds are headed to exchanges for sale or if this is a simple custody update. A confirmed deposit on trading platforms could transform this Christmas curiosity into real selling pressure on the price of Ether during this low-volume week.
Source: https://x.com/whale_alert/status/2003773986526667252
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