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HomeCrypto NewsMarketDormant Pre-Mined Address Holding 200 Ethereum (ETH) Activated After Seven Years 

Dormant Pre-Mined Address Holding 200 Ethereum (ETH) Activated After Seven Years 

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An anonymous user activates a dormant pre-mined address containing over 200 Ethereum coins after seven years. 

A dormant pre-mined wallet containing a huge sum of Ethereum (ETH) has just been activated after several years. Cryptocurrency whale tracking service Whale Alert reported that the dormant address containing the sum of 200 ETH was activated after seven years and two months. 

Whale Alert noted that the funds in the wallet were pre-mined before the official launch of Ethereum. At the time the ETH coins were pre-mined, they were worth almost nothing. Interestingly, as the cryptocurrency price has soared over the years, the 200 ETH are now valued at $282,115. 

“A dormant pre-mine address containing 200 #ETH (282,115 USD) has just been activated after 7.2 years!” Whale Alert tweeted. 

Still Worth A Fortune

The owner of the address could have taken advantage of the last bull run when a unit of Ethereum changed hands above $4,800. However, the 200 Ethereum coins in the wallet are still worth a fortune at the current ETH exchange rate of $1,468. 

At press time, the owner of the address is unknown and it is unclear why the funds were reactivated after several years of being dormant. However, some crypto investors believe the owner could sell a large portion of the cryptocurrency in the coming days. 

Not New

For one reason or another, many investors have left their crypto assets dormant for years. Sometimes, the rationale behind this action is to hold the asset until its price soars. At other times, a crypto address could be left dormant due to unforeseen circumstances. 

However, the development is not the first time a dormant address will be reactivated after several years. As reported earlier this year, a dormant address containing 100 Bitcoin was reactivated after more than 12 years

 

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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