Historic Ethereum Wallets Reactivate, Fueling Whale Activity Speculation
Two Ethereum wallets untouched since Ethereum's mainnet launch in July 2015 have suddenly come back to life, transferring a total of 1,140 ETH—worth nearly $2.9 million at current prices.
The wallets, labeled “0x27” and “0x7f,” were initially funded during Ethereum’s genesis phase and had remained inactive for 3,630 days.
Their awakening coincides with a broader trend in crypto: long-dormant wallets, both Ethereum and Bitcoin, springing into action. Just days ago, three Bitcoin wallets inactive since 2010 moved billions in assets, and earlier this year, more than $40 million in Satoshi-era Bitcoin resurfaced.
Ethereum’s rise in value adds to the intrigue. Since these two wallets were created, ETH has appreciated by over 89,000%, rising from just a few cents to more than $2,500. The Ethereum network itself has evolved dramatically, transitioning from proof-of-work to proof-of-stake and rolling out major upgrades like The Merge and, more recently, the Pectra update.
Pectra has introduced features like smart accounts and higher staking thresholds, while co-founder Vitalik Buterin continues to push forward with new proposals. One of the latest: a transaction gas cap aimed at increasing network efficiency and security by reducing the risk of certain denial-of-service attacks.
While the motives behind the wallet movements remain unclear, they add to the growing list of historic crypto addresses suddenly springing back to life—often sparking speculation and attention across the industry.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
