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Crypto

Ethereum's Long-Sleeping Whales Stir from their Slumber

Guavy AI Editorial Team
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ETH
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The Ethereum network has seen an awakening of its oldest whales in recent weeks. On August 11, a Genesis ethereum wallet that had been untouched for 11 years moved 2,680 ETH worth $5.03 million.

This represents a staggering gain of 605,924% from the original value of $830 when it was first allocated in July 2014. Ethereum's initial coin offering (ICO) saw early buyers grab ETH for a dirt-cheap $0.31 per coin.

This is not an isolated incident. Over July and August 2026, four Genesis wallets have moved 8,680 ETH across two exchanges: Coinbase and Coinjar. One of the wallets that moved 2,000 ETH on August 8 was worth only $620 in 2015.

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