u.today
An Ethereum wallet that had remained inactive since the network's pre-mine era has suddenly come back to life after more than a decade.
According to blockchain tracker Whale Alert, a dormant pre-mine address holding 2,000 $ETH, worth approximately $3.79 million at current prices, was activated after 11 years of inactivity.
The stash was worth just $620 when the wallet was first funded in 2015.
Other recent activations
The latest activation follows a string of similar events involving early Ethereum addresses.
In late April, a pre-mine wallet holding 10,000 $ETH (worth nearly $22.9 million at the time) was reactivated after 10.8 years of dormancy.
May then saw several more early wallets spring back to life, including addresses containing 2,000 $ETH, 790 $ETH, and 400 $ETH, all inactive since Ethereum's launch period.
Earlier in the year, Whale Alert also detected dormant pre-mine wallets holding 401 $ETH in March and 99 $ETH in February becoming active after more than a decade.
Notably, no dormant Ethereum pre-mine wallet activations were reported in June, making July's latest awakening the first such event in weeks.
The trend has not been limited to Ethereum. Earlier this year, Whale Alert also tracked the reactivation of two ancient Bitcoin wallets containing 2,100 $BTC and 500 $BTC, which had remained untouched for more than 13 and 12 years, respectively.
Bitmine continues accumulation
In the meantime, institutional buyers continue accumulating the asset.
According to Onchain Lens, Bitmine purchased 7,430 $ETH over the past week, increasing its total holdings to 5.78 million $ETH.
The company reportedly has 4.91 million $ETH staked, with its Ethereum treasury valued at roughly $10.9 billion, while total crypto, cash, and other holdings stand at $11.5 billion.
At the time of writing, Ethereum is trading at approximately $1,900 per $ETH.