Ethereum Whale Moves $145M to Gemini After 9-Year Dormancy

• Ethereum whale moves $145 million to Gemini after nearly a decade of dormancy.
• Wallet retains 85,283 ETH, showing measured strategy rather than full liquidation.
• Activity sparks market attention, reflecting cautious movements from early Ethereum holders.

A long-dormant Ethereum wallet stirred the market after nearly nine years of inactivity. The address transferred 50,000 ETH, worth roughly $145 million, to Gemini exchange on Sunday. The wallet moved 25,000 ETH earlier in the day, followed by another 25,000 ETH hours later, according to EmberCN using Arkham Intelligence data. This activity has drawn attention because dormant whale movements are rare and often trigger speculation about early crypto holders’ intentions.

The wallet, identified as “0xb5…Fb168D6,” has been inactive since 2017. That year, it withdrew approximately 135,000 ETH from Bitfinex, valued at $12.17 million at the time. The timing places the holder among Ethereum’s earliest participants, likely receiving ETH from mining or the 2014 initial coin offering.The extended inactivity suggests a long-term holding strategy rarely seen in volatile crypto markets.

Most early investors sold during prior cycles or actively traded positions. The nine-year gap demonstrates exceptional patience and discipline. When dormant whales become active, markets usually take notice, interpreting these moves as signals of potential selling or strategic planning. While transferring ETH to exchanges often implies preparation for selling, other explanations exist. The whale may use Gemini’s custody services for security or institutional purposes.

Exchange platforms also support lending or collateral management, meaning the move may not indicate immediate liquidation. Despite the massive value transferred, gas fees remained small, showcasing Ethereum’s improved network efficiency. Post-Merge upgrades have enhanced scalability and lowered transaction costs, even for large transfers.

This activity coincides with renewed whale movements in other crypto markets. A Bitcoin wallet inactive for 13 years moved 909 BTC, worth about $84 million, last week. These actions indicate that some early holders are becoming active again, though coordination remains unclear. Market analysts often watch exchange inflow metrics as sentiment indicators. Large sudden transfers typically reflect cautious outlooks from major holders.

Following the Ethereum transfer, Ether extended its recent decline by 2.8%, trading near $2,859 at the time of reporting. Traders are now evaluating whether the partial movement signals preparation for selling, strategic positioning, or security-related activity.The wallet’s selective transfer highlights that whales may act deliberately, moving a portion while keeping most holdings in cold storage. This measured approach balances liquidity needs with long-term strategy, showing how early investors manage risk even after years of dormancy.

Overall, the reactivation of this nine-year-dormant wallet underscores the influence of early Ethereum holders on market dynamics. The partial transfer to Gemini draws attention, but the wallet’s remaining balance suggests continued commitment. Observers will be closely monitoring further activity to gauge whether this signals selling pressure or strategic positioning in a maturing market.