Another Ethereum whale has emerged from years of inactivity, choosing to stake its entire trove rather than liquidate it. This wallet holds 40,000 ETH, initially purchased for about $12,000 during the Ethereum inception in July 2015, which has skyrocketed in value to approximately $120 million today.

Rather than transferring these funds to a cryptocurrency exchange, this ICO whale is betting on Ethereum’s future by staking their holdings, indicating a firm belief in the platform.

Other Notable Ethereum Wallet Actions

Recent discussions have centered around major crypto whales divesting, with some analysts speculating about their influence on market dynamics. In contrast, some wallets have started selling. For instance, one wallet that had accumulated 254,908 ETH commenced selling its holdings on November 26, unloading significant amounts until only $9.3 million remains.

Continued Accumulation by Top Holders

Despite some whales exiting positions, major Ethereum addresses continue gathering. Recent data shows that the top 1% of wallets have increased their Ether supply to 97.6%, up from 96.1% a year prior. The Eth2 Beacon Deposit Contract holds a staggering 72.4 million ETH, valued around $203 billion, representing about 60% of the total Ethereum supply.