An Ethereum Wallet Untouched for 11 Years Just Moved 2,155 Ethereum. How Much Did Its Owner Make? - 24/7 Wall St.
An Ethereum wallet untouched since the network's launch has moved 2,155 ETH worth approximately $4.6 million, according to blockchain tracking service Whale Alert.
The wallet, identified as a pre-mine address that received coins in Ethereum's first block, was flagged by Whale Alert on November 9, 2026. The transaction comes as Ethereum trades at $2,069, down nearly 3% over the past 24 hours and about 58.2% below its all-time high of $4,946 from August 24, 2025.
Early Investor's Modest Investment
On-chain analytics firm Lookonchain reports that the owner purchased 1,400 ETH during Ethereum's initial coin offering (ICO) at approximately $0.31 each, totaling about $434. The owner later withdrew another 755 ETH from Bitfinex when Ethereum traded at $11.74, costing around $8,864. Blockscout, a blockchain explorer, confirms these transactions, tagging the wallet as a genesis address with its first incoming transfer of 755 ETH in March 2016.
Massive Paper Gain
The total investment of about $9,298 has grown into coins worth approximately $4.58 million, representing a paper gain of about $4.57 million. If all 2,155 ETH had come from the presale, they would have cost roughly $668, but blockchain data shows the coins came from different purchases at different times.
No Immediate Selling Pressure
The transaction flagged by Whale Alert was actually a 0.05 ETH test transfer, with the remaining balance moving to a new private wallet less than an hour later. The new wallet has no exchange tag and still held about 2,155 ETH on November 10. Large wallet moves that stay off exchanges typically don't cause major price swings, as recent whale activity has shown.
A large holder about to sell would typically deposit coins on an exchange, and these coins haven't reached one.
Market Context
Ethereum's price has been declining, with ETH down 9% over the past seven days and 30.4% year to date. The cryptocurrency trades below its key moving averages: $2,294 (20-day), $2,471 (50-day), and $2,154 (200-day). For Ethereum to recover, it likely needs fresh demand from spot exchange-traded funds (ETFs) and corporate treasuries, though one major treasury buyer is approaching its purchase limit.
What to Watch Next
The first factor to monitor is whether these 2,155 ETH move to an exchange deposit address, which would add to the sellable supply. The second is Ethereum's price action, which needs to close above its 200-day average near $2,154 to signal returning buyers. A drop below the 90-day low of $1,874 from August 16 would indicate sellers are in control, regardless of this single wallet's activity.
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