thecryptobasic.com
Another diamond-handed Ethereum whale has reactivated from dormancy to massive portfolio gains after holding onto his $ETH for over 10 years.
Whale Alert drew the crypto community’s attention to this whale activity on Saturday, August 16. Notably, this was a pre-mine whale who had been dormant for 10 years and a month, with the recent transaction being his first.
Ethereum Whale Awakens from Slumber
For context, the address “0x61b9” was among the early Ethereum adopters and received 334.7 $ETH at the genesis block. Etherscan shows it received the $ETH 3,669 days ago, which is approximately 10 years and a few weeks.
At the time of writing, the new address still holds the Ether tokens.
$103 Then, $1.5 million Now
Interestingly, Ethereum has come a long way since the wallet received the tokens. Whale Alert highlighted that the tokens were worth $103 in 2015, suggesting an average price of $0.307.
However, $ETH has surged to $4,435 at the time of writing and reached $4,790 a few days ago. The wallet moved the Ether holdings at a $1.5 million valuation, a staggering 1,456,210% growth from its worth 10 years ago.
Had he moved three days ago, the stash would be worth $1.6 million, representing 1,553,298% appreciation. This goes on to reaffirm the upsides of holding onto one’s investments over an extended period.
Notably, other early Ethereum adopters have also reaped the benefit of diamond-handing their holdings. For instance, a wallet moved 1,940 $ETH in December for $6.56 million. The address received the tokens, worth $601 during the Ethereum ICO, and went dormant for 9.4 years, with its patience paying off eventually.
Meanwhile, Ethereum continues to consolidate, joining a broader market trend. The second-largest cryptocurrency by market cap has now retraced 7% from its recent high of $4,790 to the current price of $4,456.