Dormant Ethereum Whale Wallet Awakens After 10 Years, Moves $1.27M in ETH

An Ethereum whale wallet, dormant since the network's launch in 2015, has suddenly reactivated, sending shockwaves through the crypto community. According to blockchain tracker Whale Alert, the address “0xcF264,” which participated in Ethereum’s Genesis Block, has moved 500 ETH — worth approximately $1.27 million — to a separate wallet “0x2C12.” This marked the first activity in nearly a decade.

Back in 2015, the 2,000 ETH held by this wallet was worth just $620. Today, its total value exceeds $5 million, representing an astonishing 816,760% gain. Despite transferring 500 ETH, the wallet still holds 1,500 ETH, currently valued at around $3.78 million based on the ETH market price of $2,517.

The reactivation of such a historic pre-mine address is sparking speculation across crypto forums. Is the original investor cashing out, securing funds, or preparing for a strategic move? These questions arise at a critical time for Ethereum, as the price struggles to break out of a prolonged consolidation phase after rebounding from recent lows — still far from its all-time high near $4,800.

Movements from Genesis wallets often carry psychological weight in the market, signaling potential shifts in long-term holder sentiment. With Ethereum's volatile price action and renewed interest in older holdings, this unexpected whale move adds intrigue and potential volatility to the ecosystem. As ETH continues to navigate its macro trend, all eyes remain on early holders and the possible motives behind their sudden return.