Ethereum Wallet Inactive for 9 Years Suddenly Active! IDR47 Billion ETH Moved, What’s Up?
Jakarta, Pintu News – Two Ethereum (ETH) wallets that have been sleeping since the blockchain genesis era in 2015 suddenly came back online earlier this week. After almost a decade of being untouched, the two wallets transferred a total of 1,140 ETH which is currently worth around USD 2.9 million (equivalent to IDR 47,119,200,000 at an exchange rate of 1 USD = IDR 16,248). This rare occurrence made headlines in the crypto community as it could signal a shift in long-holder behavior, while also opening up speculation about the future of digital assets like Ethereum.
This event occurred exactly 3,630 days after the Ethereum network launched on July 30, 2015. Based on data from Etherscan, two wallet addresses – “0x27” and “0x7f” – that have been dormant for almost ten years, are now moving 900 ETH and 240 ETH separately. Interestingly, those 900 ETH in 2015 were only worth about USD 279.
The Mobile Old Wallet Phenomenon and its Implications
The reactivation of Ethereum’s “genesis” wallet seems to follow a similar trend in the crypto market lately. Other reports suggest that some Bitcoin (BTC) wallets that have been dormant for more than 14 years have also started moving funds worth billions of US dollars. The phenomenon of dormant wallets suddenly becoming active is often attributed to changes in investment strategy, asset liquidation efforts, or even security measures by the original owners.
There is speculation as to whether the owners of these old wallets are looking to take advantage of ETH’s nearly 89,450% rise since 2015, or are simply moving assets to new wallets for security. On the other hand, there is also the possibility that changes in the crypto ecosystem, such as increased institutional interest, have made early holders start moving.
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Ethereum Technology Update: Effect of Pectra Upgrade
This major wallet movement comes amidst the rapid development of Ethereum technology. Recently, Ethereum developers launched the “Pectra” upgrade which adds smart accounts and improves network scalability. This upgrade helped push the price of ETH from USD 1,812 to above USD 2,540 in recent weeks.
Meanwhile, Vitalik Buterin and Toni Wahrstätter also proposed a new gas limit of 16.77 million per transaction, with the aim of improving network efficiency and resilience. Technical updates like these usually give a positive sentiment to the market and encourage the participation of old users to become active again.
Institutional Trends Turn to Ethereum
In addition to the moving wallet genesis phenomenon, the institutional market is also showing great interest in ETH. Nasdaq company Bit Digital just increased their treasury to 100,603 ETH (up more than 300% from the previous quarter). The funds for the purchase came from the proceeds of a USD 172 million public offering and the sale of 280 BTC.
Bit Digital, which originally focused on Bitcoin, is now positioning itself as an “ETH holding company” with the aim of becoming the largest institutional ETH holder in the world. Other companies such as SharpLink Gaming (SBET) and BitMine (BMNR) have announced large purchases of Ethereum.
Is This the Beginning of a New Wave in the Crypto World?
With the increase in legacy wallet activity and institutional interest in ETH, some analysts predict there will be a huge surge in ETH and Solana (SOL) holdings by corporations in the next 12 months. This phenomenon could boost prices and strengthen Ethereum’s position in the global cryptocurrency ecosystem.
Conclusion
The movement of two genesis Ethereum wallets after 9 years of sleep signals a new dynamic in the crypto market. Both in terms of existing and institutional investors, this trend has the potential to have a huge impact on the value and ecosystem of Ethereum going forward.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Cryptopolitan. Dormant Ethereum genesis wallets move $2.9 million after 9 years. Accessed July 9, 2025.