Two Ethereum genesis wallets moved a total of 1,140 ETH, valued at around $2.9 million, after nearly a decade of inactivity. Blockchain data shows that the activity came from addresses created in July 2015, during Ethereum’s launch period.
The wallets—known as “0x27” and “0x7f”—remained inactive for 3,630 days before reactivating on July 8, 2025. According to Whale Alert, one wallet moved 900 ETH, which had been worth only $279 at the time it was received in 2015.
The ETH transfer activity appeared across multiple transactions. Wallet “0x7f1619” sent ETH in several amounts, including 300 ETH, 298 ETH, 200 ETH, 100 ETH, and smaller transfers like 0.83 ETH. All the funds were sent to the same address: “0xdd006a.”
Arkham Intelligence confirmed the movement, listing the wallet under high balance activity. The transactions took place over a 2-hour window.
Ethereum Price Remains Stable After Transfers
At the time of the ETH transfer, the Ethereum price stood at $2,542. The market did not show immediate reaction to the wallet movements. However, the transfers occurred shortly after Ethereum’s Pectra upgrade, which introduced changes to improve scalability and smart account support.
Following the Pectra upgrade, the Ethereum price rose from $1,812 to over $2,540. This shift followed the earlier Merge in 2022, which changed the consensus model from proof-of-work to proof-of-stake.
Developer Toni Wahrstätter, alongside Vitalik Buterin, also proposed a gas limit of 16.77 million per transaction. They said this would help maintain performance under high traffic without harming network operations.
Bit Digital Increases Ethereum Holdings to Over 100K ETH
Bit Digital, a company listed on Nasdaq, increased its Ethereum holdings by over 300%. At the end of Q1 2025, it held 24,434 ETH. As of July 2025, the company holds 100,603 ETH, according to its latest disclosure.
The increase came after Bit Digital raised $172 million through a public offering and sold 280 BTC to shift its treasury strategy. The firm confirmed it now manages an ETH treasury instead of focusing solely on Bitcoin.
CEO Sam Tabar said,
“We are starting with over 100,000 ETH exposure.”
He added that the company plans to continue expanding its holdings.
Bit Digital is not the only firm acquiring ETH. BitMine (BMNR) announced a $250 million fundraising round to support Ethereum purchases. SharpLink Gaming (SBET) also reported adding ETH to its corporate treasury.
Dormant Wallet Reactivations Continue Across Crypto Markets
The movement of these dormant Ethereum wallets follows a trend seen across multiple chains. On July 5, three Bitcoin wallets dormant for more than 14 years transferred billions in BTC. In 2024, some Satoshi-era wallets also moved coins valued at $44 million.
This pattern of reactivation now includes Ethereum. Blockchain activity trackers show more wallets from early Ethereum days coming online, mostly without warning.
In a separate event, the US government ETH transfer to Coinbase Prime also gained attention. The government wallet moved 86.56 ETH, worth around $200,000, on July 7, 2025. The ETH came from assets seized in 2022 from Chase Senecal, a suspect in NFT scams and hacking cases.
According to Arkham Intelligence, the US wallet first sent a $10 test transfer before moving the full amount. This marks the first such US government ETH transfer under the current administration.
