Foundation

After a continuous struggle in the cryptocurrency market for almost 1 month, a crypto whale recently emerged after being dormant for 8.8 years. On May 2, 2024, an on-chain analytics firm,Lookonchain, made a post on X (previously Twitter) and shared information about the dormant whale, revealing that it holds a massive 1,960 Ethereum worth $5.87 million. Ethereum Whale appears after 8.8 year 
This particular wallet had been dormant since the Ethereum Initial Coin Offering (ICO) period when funds were initially deposited into it. However, the recent activity saw these funds being moved to a new blockchain address, sparking curiosity and speculation within the cryptocurrency community.
Notably, such movements of large amounts of Ethereum by the Ethereum Foundation have historically led to market reactions. Past instances have seen negative responses from market participants, as the sudden influx of ETH into the market can influence its price dynamics.
The revival of activity involving wallets linked to the Ethereum Foundation highlights the ongoing evolution and dynamics within the Ethereum ecosystem. Market participants remain alert, closely monitoring these developments for potential impacts on Ethereum’s market dynamics and price movements. ETH price performance and key levels 
Currently, Ethereum (ETH) is trading near $2,980, and in the last 24 hours it experienced a massive 4% upside momentum. If we look at the performance of ETH over a longer period, in the last 7 days it experienced nearly a 5% downside momentum. Whereas, in the last 30 days, Ethereum’s price experienced over a 9% downside momentum.
However, this dormant wallet appearance isn’t the only transaction that happened today. Recently, Todayq News published a report regarding a massive <a href="https://news.todayq.com/1-75-trillion-shiba-inu-moved-amid-price-dump-can-it-spark-upward-rally/" rel="noopener noreferrer nofollow">1.75 trillion SHIB transaction</a> from Robinhood to an unknown wallet, which also gained massive attention from the cryptocurrency community, resulting in a price surge of over 5%.

Ether dormant whale wokes up amid price jump, will ETH dip more?

Todayq News

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