Ethereum Whale Rises After 8 Years of Sleep, What Impact Will It Have on November Cypto Market?

Jakarta, Pintu News – Ethereum (ETH) is struggling to return to high levels amid broader crypto market consolidation after the latest fall. Despite the short-term weakness, some analysts suggest that Ethereum (ETH) may be entering a bullish accumulation phase, with price action stabilizing around the key $4,000 level, a zone that has historically served as strong resistance and support.

The asset’s resilience amid market uncertainty reflects growing confidence in the long-term fundamentals and activity of the Ethereum (ETH) network.

Ethereum Wallet Rediscovery After 8 Years

A recent report by Lookonchain revealed that an early Ethereum (ETH) participant-identified as wallet 0x3690-has resurfaced after nearly eight years of inactivity, sparking renewed discussion in the crypto community. This address was one of the original Ethereum (ETH) ICO wallets, receiving 20,000 ETH at genesis in 2015 with a total investment of just $6,200.

At current prices, the stash would be worth approximately $80.42 million, representing an incredible 12,971-fold return. On October 27, 2025, the wallet sent 1,500 ETH (approximately $6 million) to Kraken, marking its first on-chain movement since the launch of Ethereum (ETH).

This kind of activity from early holders often raises questions about investor sentiment and potential market shifts-especially as the broader crypto market remains in a fragile consolidation phase.

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Market Analysis and Investor Sentiment

While the transfer doesn’t necessarily signal immediate selling, it emphasizes how long-term participants are starting to reposition as Ethereum (ETH) hovers near the $4,000 level. Analysts suggest that the coming weeks will be decisive for the market, as Bitcoin (BTC) and Ethereum (ETH) approach critical technical and psychological thresholds ahead of the next policy decision from the US Federal Reserve.

If Ethereum (ETH) manages to hold its current range and maintain network engagement, it could confirm the beginning of a new bullish accumulation phase. Conversely, a drop below support might extend the correction before a stronger rebound forms later in the quarter.

In both cases, these events serve as a reminder of Ethereum’s (ETH) resilience-and how early faith in the network’s vision has resulted in historical returns for those who persevere through multiple cycles.

Market Reflections and Expectations

The market is now closely watching to see if this renewed on-chain activity signals a turning point or a moment of reflection before the next big move. This incident not only highlights the changing market dynamics but also demonstrates the importance of a deep understanding of long-term investor behavior in anticipating future market trends.

This wallet’s decision to reactivate after many years can provide valuable insight into the strategies and expectations of veteran investors.

Conclusion

In conclusion, this resurgence of the Ethereum (ETH) wallet marks an important moment in crypto history and could be a catalyst for significant changes in market dynamics. By monitoring the actions of these key holders, market participants can better understand the direction that Ethereum (ETH) might take in the short and medium term.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Ethereum ICO Whale Awakens After 8 Years, 1500 ETH Sent to Kraken After 8 Years. Accessed on October 31, 2025