Ethereum Wallet Wakes Up After 11 Years, Institutional Buyers Continue Accumulation

An Ethereum wallet that had been inactive since the network's pre-mine era has suddenly come back to life after more than a decade.

According to blockchain tracker Whale Alert, a dormant pre-mine address holding 2,000 ETH was activated after 11 years of inactivity. The stash was worth just $620 when the wallet was first funded in 2015, but its current value is approximately $3.79 million at current prices.

This latest activation follows a string of similar events involving early Ethereum addresses. In late April, a pre-mine wallet holding 10,000 ETH (worth nearly $22.9 million at the time) was reactivated after 10.8 years of dormancy.

Institutional buyers continue to accumulate Ethereum, with Bitmine purchasing 7,430 ETH over the past week and increasing its total holdings to 5.78 million ETH. The company's Ethereum treasury is valued at roughly $10.9 billion, while its total crypto, cash, and other holdings stand at $11.5 billion.