Ethereum Sees Huge Whale Addresses Wake Up After Not Being Active Since 2018

Ethereum has dropped back below $2,000, but there may be reason to believe this dip won't last long. There has been major dormant movement on the Ethereum network, including two addresses that identically moved long-standing ETH that was sitting for nearly 5 years.

When dormant assets move, it can often be indicative of major price shifts coming (generally in the positive direction). Assets circulating away from older addresses and into new ones will have an increased likelihood of raising the rate of tokens moving between addresses on a network.

As we can see below, there has been a spike in dormant circulation (in yellow). These previous spikes have typically coincided with price bottoms. With today's spike being the 5th highest level in the past 6 months today, there is an increased probability that history can repeat itself.

Additionally, we can see that the mean dollar invested age line (in red, above) has been dropping over the past week. This indicates that the average age in which investments have been sitting in addresses has decreased. Younger mean dollar invested age is historically better for a bull setup, and we will need to watch closely to see if this trend continues.

As far as individual addresses go, take a look at 0x7AE92148E79D60a0749fd6De374C8e81DfDdf792 and 0xca582d9655A50E6512045740DeB0de3a7EE5281f in the charts below:

Both accumulated 150,000 ETH in November, 2018 and both dumped their entire supply yesterday, April 18th. This isn't exactly a terrible sign, as each address making just one large 150k accumulation, and one dump, isn't a big enough sample size to presume that they are market manipulation masterminds.

But that being said, the timing of them adding their 150,000 ETH in late 2018 with prices below $125 and just a couple weeks before bottoming out and surging, does suggest the possibility that they knew something.


Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

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