$ETH might face some price action in the foreseeable future as ancient whales are suddenly waking up
community as an ICO-era wallet suddenly woke up after being dormant for more than three years. The wallet in question belongs to an early Ethereum ICO participant who received 10,100 $ETH at Ethereum Genesis, when the ICO price was around $0.31 per token. Today, the total value of the transferred 5,055 ETH is worth $8.3 million based on Ethereum's current price of $1,700.
The sudden transfer of such a large amount of Ethereum has raised many questions among market participants. One of the main reasons for the sudden activity in the wallet could be a distribution of funds. The whale could be looking to take profits while the price of Ether is high, or they may be looking to make their investment safer by dividing their holdings between two wallets.
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