- The dormant address moved 20 ETH out of 100 ETH to a new address.
- The 9 and 20 EMAs closed in on one another, suggesting consolidation.
- If ETH rises to $2,524, the Supertrend indicated that it could be a sell signal.
On February 4, Whale Alert notified the crypto community that a dormant address holding 100 Ethereum (ETH) coins had been reactivated. According to the post, the said address’ last activity was eight and a half years ago.
A dormant pre-mine address containing 100 #ETH (230,159 USD) has just been activated after 8.5 years!https://t.co/TJYiR7ruZm— Whale Alert (@whale_alert) February 4, 2024
At press time value, the value of the cryptocurrency was worth $230,159. Movements like this spark speculation in the market. Sometimes, the activation leads to a sell-off. In other cases, the participant merely shifts the coins to a new address.
Coin Edition monitored that wallet and observed that 20 ETH out of the 100 had been sent to a new address. However, it remains uncertain if the transaction would end up in a sale or if it was just an address or security amendment.