Yeliz Akmaca 
A long-dormant Ethereum whale has resurfaced after nearly nine years of inactivity, moving a large amount of ether and drawing renewed attention to onchain activity.
On Sunday, the wallet transferred a total of 50,000 ETH, valued at roughly $145 million at current prices. The movement unfolded in two separate transactions, each totaling 25,000 ETH, executed within hours of each other.
A Wallet That Stayed Silent for Years
Blockchain analytics firm EmberCN identified the address as “0xb5…Fb168D6,” noting that it had remained inactive since 2017. At that time, the wallet withdrew approximately 135,000 ETH from Bitfinex, when ether was trading near $90.
The contrast is striking. What was once a portfolio worth just over $12 million has since appreciated dramatically, turning the address into one of the more notable legacy holders on the network.
Exchange Transfer Draws Attention
The latest transactions were sent to a wallet linked to Gemini, according to onchain data referenced by EmberCN and Arkham Intelligence. Transfers involving long-dormant wallets and centralized exchanges are often watched closely, as they can signal changes in portfolio strategy rather than routine internal reshuffling.
Following the transfers, the address still holds approximately 85,283 ETH, leaving a substantial balance untouched. The remaining holdings suggest the move represents only a partial repositioning rather than a full exit.
Old Wallets Stir Across Crypto Markets
The Ethereum activity comes as similar behavior has emerged elsewhere in the crypto market. Last week, a Bitcoin wallet inactive for more than 13 years moved 909 BTC, worth roughly $84 million, to a new address, reinforcing the sense that early-era holders are becoming more active.
Such movements do not always translate into immediate selling pressure, but they tend to increase short-term uncertainty as markets reassess supply risks tied to legacy holders.
Price Reaction Remains Measured
Despite the headline-grabbing transfer, market reaction has remained relatively contained. Ether fell around 2.8% over the past 24 hours to trade near $2,859 at the time of writing, while bitcoin slipped roughly 1.4% to $87,611.
For now, prices suggest caution rather than panic. Still, the reappearance of wallets untouched for nearly a decade adds another layer of tension to an already fragile market backdrop, particularly if additional transfers follow in the days ahead.
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