Two Ethereum wallets inactive since the blockchain’s 2015 mainnet launch have moved 1,140 ETH valued at $2.9 million. The transaction marked reactivation after nearly a decade of dormancy, spotlighting Ethereum’s extraordinary appreciation since inception.
The wallets were originally funded during Ethereum’s genesis block creation, verified by transaction histories tagged ‘GENESIS’ on Etherscan. The transferred ETH has appreciated approximately 89,450% from its initial value, reflecting Ethereum’s substantial market growth over the past decade.
Similar revivals of legacy assets occurred throughout 2024, including Bitcoin wallets from the Satoshi era transferring over $44 million in BTC. These movements coincided with Ethereum’s ecosystem enhancements, particularly the Pectra upgrade implemented last May which improved network functionality and contributed to ETH’s price surge from $1,812 to $2,540.
Concurrent Ethereum development proposals include a gas cap adjustment to 16.77 million units per block, advanced by co-founder Vitalik Buterin and developer Toni Wahrstätter. This technical recommendation aims to strengthen network resilience against Denial-of-Service attacks while sustaining operational stability.