A dormant Ethereum wallet, inactive for nearly a decade, has been reactivated, sparking interest among Ethereum holders.

The wallet's owner, an Ethereum ICO participant, made a small transfer of 0.002 ETH on June 14, 2025, which has raised eyebrows in the market.

This reactivation follows a sequence of transactions, including a transfer of 0.0001 ETH to a new address and a significant transfer of 500 ETH to a Binance-associated address.

The wallet still holds approximately 1,500 ETH, valued at around $3.796 million, leading to speculation about potential selling pressure in the Ethereum market.

If the whale decides to liquidate more ETH, it could exacerbate selling pressure during a period of weak buying interest, complicating market conditions.

Originally, this wallet received 2,000 ETH during the Ethereum Genesis event at an ICO price of about $0.31, representing a total initial investment of $620.

Today, the value of the remaining 1,500 ETH holdings is approximately $5.03 million, reflecting the dramatic appreciation of Ethereum over the years.

Currently, Ethereum is trading around $2,525, struggling to break resistance at $2,600, with recent price action hovering around the $2,500 level.

This reactivation occurs as Ethereum tests key support levels, making it a critical moment for on-chain analysis.

Ethereum's correlation with Bitcoin remains high at 0.87, suggesting that significant events related to ETH can impact the broader cryptocurrency market.

In the wake of the whale transfer, active addresses on the Ethereum network have increased by 3.2% in the past 24 hours, indicating rising network activity.

Furthermore, trading volume for the ETH/USDT pair on Binance surged by 5.7% in the last hour, reflecting increased trader interest following the wallet's reactivation.