Dormant Ethereum Whale Transfers 50,000 ETH After Nine-Year Silence

TLDR

• A dormant Ethereum whale wallet moved 50,000 ETH in two separate transactions.
• The total value of the transferred ETH is estimated at around 145 million dollars.
• The wallet had been inactive since 2017 after withdrawing 135,000 ETH from Bitfinex.
• The ETH was sent to a wallet linked with the Gemini cryptocurrency exchange.
• Despite the transfer, the wallet still holds approximately 85,283 ETH.

A dormant Ethereum address holding tens of thousands of ETH initiated two large transactions, totaling 50,000 ETH, on Sunday. The transactions transferred the assets to a wallet linked to the Gemini exchange, drawing attention from blockchain analysts. The wallet had remained inactive since 2017, with the previous activity tied to a withdrawal from Bitfinex.

Ethereum Whale Transfers $145 Million Worth of ETH

The address, labeled “0xb5…Fb168D6,” sent 25,000 ETH in its first transaction to the Gemini-linked wallet. Hours later, the same address completed a second transfer of another 25,000 ETH to the same destination. Combined, the 50,000 ETH moved is valued at approximately $145 million based on current market prices.

The Ethereum whale had originally withdrawn 135,000 ETH from Bitfinex in 2017 when ETH traded around $90. At the time, the total value stood at nearly $12.17 million. Despite the recent transfers, the wallet still holds about 85,283 ETH.

Analytics firm EmberCN identified the movement using Arkham Intelligence data and confirmed the link to Gemini. This sudden reactivation stood out due to the address’s extended dormancy. The transactions occurred as the broader crypto market experienced declining prices and heavy liquidations.

Bitcoin Whale Movement Draws Parallels

In a separate case, a long-inactive Bitcoin address transferred 909 BTC last week to a new wallet. The BTC was valued at roughly $84 million when the transaction occurred. The address had reportedly been inactive for 13 years before this transfer.

Although unrelated, the timing of these whale movements prompted speculation across the crypto community. Some observers suggested that veteran holders may be reassessing market positions. However, there is no verifiable connection between the Ethereum and Bitcoin transactions.

The Bitcoin transfer mirrored the ETH whale activity in its scale and sudden reactivation. Both movements coincided with falling prices and increased sell pressure. Blockchain analysts continue to monitor addresses with large dormant holdings for similar behavior.

Liquidations Surge as ETH Drops Below $2,900

Ethereum’s price dropped below $2,900 for the fourth time since November 2025, continuing its downward trend. ETH traded at $2,866 during the reporting period, reflecting a 2.5% daily drop and 10.2% weekly decline. Bitcoin also slid by 1.2%, trading near $87,730.

These price movements triggered mass liquidations across crypto exchanges, as reported by CoinGlass. In 24 hours, the market recorded $676 million in liquidations, mostly from long positions. Ethereum led the liquidations with $220.46 million, followed by Bitcoin at $192.99 million.

The largest single liquidation occurred on Binance involving an ETHUSDT position. That trade closed at $15.22 million during the sharp ETH decline. Market volatility heightened as leveraged positions unwound rapidly across platforms.

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