According to a recent update from Whale Alert, a dormant pre-mining address containing nearly $21.9 million worth of Ethereum (ETH) has been reactivated. This is the first pre-mining Ethereum address to be activated in June.
In May, two such addresses, holding $325,535 and $5.9 million respectively, were also unexpectedly activated. April saw the activation of one address created before the launch of the genesis block. For comparison, three such activations were recorded in March, five in February, and two in January, all involving pre-mined addresses returning to activity after years of dormancy.
. Ethereum’s Pre-Mining History
Ethereum organized a significant token sale in 2014, allowing investors to purchase pre-mined tokens before the network’s launch. These pre-mined addresses contain Ethereum that was allocated during this initial sale.
.Ethereum Price Dips
On Friday, Ethereum’s price dipped to a daily low of $3,642, according to CoinGecko. The activation of the dormant address coincided with this price drop. The recent decline in Ethereum’s price followed the release of a stronger-than-expected U.S. jobs report. The robust labor market suggests that the Federal Reserve may not lower interest rates soon, contrary to the hopes of many investors.
Read more Ethereum Prepares for Massive Surge While Dogecoin Loses Investor Interest
Nearly $49 million worth of Ethereum positions have been liquidated in the past four hours, with long positions accounting for approximately 93% of the total.
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