Ethereum Foundation Wallet Moves $295 Million After Long Inactivity

An Ethereum Foundation-affiliated wallet that had been inactive for over six years recently resumed activity, transferring 92,500 ETH, roughly $295 million, to a new address.

This wallet’s last known activity was over six years ago, drawing notable interest from the crypto community.

The funds were initially allocated by the Ethereum Foundation on September 1, 2015, shortly after Ethereum’s launch. The purpose of this transfer is unclear, but it has not led to major market changes.

Bitcoin and Ethereum rebounded on Thursday, recovering to earlier week levels. Bitcoin saw a 4.58% increase, reaching $67,166, while Ethereum rose by 2.1% to $3,243.

This recovery comes after a significant drop on Wednesday due to market-wide liquidations. Despite the bounce-back, investor sentiment remains mixed.