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Dormant Ethereum Wallets Quietly Transfer $2.9M in ETH After 9 Years
In a surprising turn of events, two dormant Ethereum wallets have awakened after nearly a decade of inactivity and quietly transferred a staggering $2.9 million worth of Ether (ETH) to an unknown address. The wallets, known as “0x27” and “0x7f,” had been inactive for 3,630 days before suddenly reactivating on July 8, 2025.
According to blockchain data, the Ethereum genesis addresses moved a total of 1,140 ETH, with one wallet transferring 900 ETH worth approximately $279 at the time it was received in 2015. The other wallet, labeled “0x7f1619,” made multiple transactions of varying amounts, including 300 ETH, 298 ETH, and smaller transfers like 0.83 ETH. All funds were sent to a single address: “0xdd006a.”
This activity has sparked interest among crypto enthusiasts as it marks the first instance of such significant activity from dormant wallets in over nine years. The sudden movement is unprecedented and underscores the mysterious nature of Ethereum’s blockchain ecosystem.
Ethereum Price Remains Stable After Transfers
Despite the massive transfer, the price of Ethereum remained stable following the transactions, with the market showing no immediate reaction to the wallet movements. This could be attributed to the recent Ethereum Pectra upgrade, which introduced changes to scalability and smart account support. The upgrade was released in a bid to improve network operations.
It is worth noting that this event may have contributed to the price stability, as it has been suggested that large transactions can stabilize the market by absorbing a significant amount of supply and thus reducing sell pressure.
Bit Digital Increases Ethereum Holdings
In other news, Bit Digital, a company listed on Nasdaq, reported an increase in its Ethereum holdings. The firm, which initially held 24,434 ETH at the end of Q1 2025, now holds over 100,000 ETH after raising $172 million through a public offering and selling 280 BTC to shift its treasury strategy. CEO Sam Tabar stated that the company is committed to expanding its Ethereum exposure.
Other firms have also taken steps in recent times to increase their ETH holdings. SharpLink Gaming has reportedly added ETH to its corporate treasury, while BitMine (BMNR) announced a $250 million fundraising round to support further Ethereum purchases.
Dormant Wallet Reactivations Continue Across Crypto Markets
This incident is not an isolated event. Data suggests that reactivations of dormant wallets are occurring across multiple chains, including Bitcoin. In July 2024, several Satoshi-era Bitcoin wallets moved coins valued at $44 million. It seems that this trend has now extended to the Ethereum blockchain.
The sudden movement in these dormant Ethereum wallets has sparked interest among market observers and speculators alike.
Source: coinchapter.com
