A large crypto wallet moved 135,284 ETH, about $393.4 million, into the exchange Gemini on January 26, 2026, ending nine years of dormancy. The transfer may worry investors if the owner decides to sell and realize profits (Ed. note: large exchange deposits often raise sell-pressure concerns).
“A dormant Ethereum OG whale deposited 135,284 ETH worth $393.4 MILLION into Gemini today, marking its first activity in 9 years.” —stated on Twitter.
Price data show mixed short-term moves, offering context for the deposit. According to CoinGecko’s ETH data, Ether rose 2.5% on the day but fell 7.8% over the week.
The token also lost 5.6% across 14 days and 0.1% over the past month. Ethereum is down about 7.6% since late January 2025 and is finding support near $2,900.
Ethereum reached an all-time high near $4,946 in August 2025 and has declined more than 40% since its 2025 peak. The asset may need renewed ETF inflows and market confidence before it returns to higher levels.
