A nine-year dormant Ethereum ETH whale moved $250.5 million worth of ether to Gemini today, bringing its total ETH transfers to the exchange this week to $397 million.
According to data from Arkham Intelligence, wallet address "0xb5a…168d6" transferred 85,283 ETH to a deposit address on Gemini in two transactions at 10:19 a.m. and 11:33 a.m., respectively.
These transfers follow the wallet's 50,000 ETH transfer made earlier in the week. In total, the wallet moved its entire 135,284 ETH holdings ($397 million) this week after staying inactive for roughly nine years. The address now holds around $70 worth of numerous altcoins.
Onchain analyst EmberCN noted that the wallet accumulated the ether in 2017 through Bitfinex exchange at around $90 per ETH. This means the wallet owner profited around $385 million from holding the ether for nearly a decade.
This transfer mirrors other recent whale activity. Last week, a bitcoin wallet inactive for 13 years moved roughly 909 BTC, worth about $84 million, to a new address.
According to The Block's crypto price page, ether was up 2.45% in the past 24 hours to trade at $2,937 at the time of writing. Bitcoin rose 1.46% to $88,676.