Dormant Ethereum Wallet Moves $229M Before Crash

A long-dormant Ethereum wallet suddenly sprang to life just before a sharp market downturn, moving a massive stash of ETH to Bitfinex.

Blockchain analysts at Lookonchain revealed that this anonymous trader, inactive for six years, transferred 77,736 ETH—worth nearly $229 million at the time—right before Ethereum’s price plunged to around $2,100.

Interestingly, the same wallet had originally withdrawn this ETH from Bitfinex back in 2019, when it was valued at just $11.9 million, suggesting a significant profit.

Meanwhile, some major investors took advantage of the dip. A well-known entity, “7 Siblings,” reportedly scooped up 50,429 ETH, spending around $126 million.

This isn’t the first time they’ve made such a move—back in August, they quietly acquired $129 million worth of ETH when prices neared $2,300, strategically buying throughout the crash.