5-Year Dormant Whale Address Deposits $3.14M ETH to MAX Exchange

A previously dormant Ethereum (ETH) wallet address, inactive for five years, has recently deposited 1,250 ETH valued at approximately $3.14 million to the MAX exchange, according to on-chain data. Typically, such deposits are interpreted as potential selling activity. On-chain analytics platform Arkham (ARKM) reported that the address received 1,500 ETH in September 2021, equivalent to roughly $4.74 million at the time. Since then, the whale has not moved any of its holdings. As of current CoinGecko data, ETH is trading down 0.51% at $2,507.95.