Dormant 9-year Ethereum whale moves $145 million to Gemini

A long-dormant Ethereum whale wallet has reactivated after nine years, transferring 50,000 ETH worth roughly $145 million to the Gemini exchange in the past 12 hours, according to on-chain monitoring by EmberCN.

The address originally withdrew 135,000 ETH from Bitfinex about nine years ago, when ETH was trading near $90, for a total cost of around $12.17 million. At current prices, that position represents an approximate 32x gain.

Despite the large transfer, the whale still holds 85,000 ETH, valued at about $244 million, suggesting the move may be partial profit-taking rather than a full exit.