Dormant Ethereum whale wakes up after 8 years with lots of pre-mined ETH
Pre-mining is the practice of mining and distributing cryptocurrencies prior to their official launch. The resurgence of this sleeping whale address marks a rare event, one that last occurred nearly three weeks ago at the close of July. A case in point, an
participant, who had maintained silence for eight years, orchestrated a substantial transfer of 641 ETH, currently valued at around $1.07 million.The crypto community remains divided over the significance of these reawakenings. The prevailing sentiment suggests that the resurgence may portend bearish market trends. This belief has garnered support from recent historical trends.
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