Another diamond-handed Ethereum whale has reactivated from dormancy to massive portfolio gains after holding onto his ETH for over 10 years.
Whale Alert drew the crypto community’s attention to this whale activity on Saturday, August 16. Notably, this was a pre-mine whale who had been dormant for 10 years and a month, with the recent transaction being his first.
Ethereum Whale Awakens from Slumber
For context, the address “0x61b9” was among the early Ethereum adopters and received 334.7 ETH at the genesis block. Etherscan shows it received the ETH 3,669 days ago, which is approximately 10 years and a few weeks.
After receiving the stash, the wallet went dormant. Notably, it held the Ethereum bag through three bull and bear cycles and finally reactivated on Saturday.
Upon reawakening, it moved the 334.7 ETH to a new wallet “0xFc20” on August 16. The whale first transferred 0.1 ETH ($442) in a test transaction before moving the remaining 334.6 ETH ($1.48 million) to the receiving address.
At the time of writing, the new address still holds the Ether tokens.
$103 Then, $1.5 million Now
Interestingly, Ethereum has come a long way since the wallet received the tokens. Whale Alert highlighted that the tokens were worth $103 in 2015, suggesting an average price of $0.307.
However, ETH has surged to $4,435 at the time of writing and reached $4,790 a few days ago. The wallet moved the Ether holdings at a $1.5 million valuation, a staggering 1,456,210% growth from its worth 10 years ago.
Had he moved three days ago, the stash would be worth $1.6 million, representing 1,553,298% appreciation. This goes on to reaffirm the upsides of holding onto one’s investments over an extended period.
Notably, other early Ethereum adopters have also reaped the benefit of diamond-handing their holdings. For instance, a wallet moved 1,940 ETH in December for $6.56 million. The address received the tokens, worth $601 during the Ethereum ICO, and went dormant for 9.4 years, with its patience paying off eventually.
Meanwhile, Ethereum continues to consolidate, joining a broader market trend. The second-largest cryptocurrency by market cap has now retraced 7% from its recent high of $4,790 to the current price of $4,456.
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