Ethereum's Ancient Whales Stir as Millions Move from Deep Storage

Ethereum's earliest whales have started to awaken from their long slumber. On August 11, an onchain tracker caught a Genesis Ethereum wallet moving 2,680 ETH worth $5.03 million after sitting untouched for 11 years.

The ancient stash was originally worth just $830, meaning the long-forgotten pile delivered a staggering 605,924% gain.

This is not an isolated incident. In July and August, four Genesis Ethereum wallets moved 8,680 ETH across these two months.

Arkham Intelligence data shows that some of this dormant ETH landed at Coinbase and Coinjar, suggesting more Genesis wallets may awaken in the future.