Overview
- Blockchain data show two transactions of 25,000 ETH each to a wallet associated with Gemini, marking the address’s first activity in nearly nine years.
- The address previously withdrew about 135,000 ETH from Bitfinex in 2017, and at current market levels that early stash reflects roughly a 32x gain.
- Following the transfers, the wallet still holds approximately 85,283 ETH, leaving a substantial balance untouched.
- Market observers note that movements to centralized exchanges can signal preparation to sell, though such inflows do not confirm imminent liquidation.
- Ether extended a recent decline to about $2,859 following the reports, and the move parallels other reactivations such as a 13-year-dormant Bitcoin wallet last week.