Two old Ethereum wallets move $2.9 million worth of ETH, showing significant appreciation.

Two dormant Ethereum wallets from 2015 were activated, moving 1,140 ETH worth $2.9 million. The wallets received their initial ETH from Genesis transactions at the launch of the Ethereum blockchain. ETH has appreciated 89,450% during their dormancy. Recently, dormant whale wallets in Bitcoin have also reawakened, transferring billions of dollars.

Ethereum transitioned to proof-of-stake in 2022 to reduce energy consumption. The recent Pectra upgrade brought smart accounts, improved scalability, and higher staking limits. ETH price rose from $1,812 to $2,540 post-upgrade. Vitalik Buterin proposed a gas cap of 16.77 million for individual transactions to enhance network resilience and security.

Read more at Cointelegraph: Two Ethereum Genesis Wallets Wake, Move $2.9M ETH