Blockchain monitoring data reveals notable activity on the Ethereum network as two long-dormant addresses have resumed operations during recent market dips. This movement suggests strategic accumulation of ETH assets by unidentified holders.
Detailed Address Activity
The wallet address 0x55C1, which had remained inactive for two years, made a significant withdrawal of 10,000 ETH (valued at approximately $19.24 million) from Binance just six hours ago.
A second address 0x1342, dormant for one year, also became active by withdrawing 1,892 ETH (worth about $3.75 million) from the same exchange only 30 minutes prior.
Interpreting On-chain Behavior
- Sign of long-term holders accumulating during dips
- Institutional-scale funds testing market bottoms
- Potential indicator of an approaching bullish cycle
Notably, these funds entered the market during a correction phase and haven't been moved to exchanges immediately after withdrawal, suggesting a long-term holding strategy. Such on-chain behavior is often regarded as a key indicator for identifying potential market bottoms and upcoming accumulation phases.