Ethereum’s Decade-Dormant Whale Awakens: A $120 Million Bullish Bet on Staking

In a remarkable display of long-term conviction, a pre-ICO ethereum address holding 40,000 ETH—valued at approximately $120 million—has broken a decade-long silence. After ten years of complete dormancy, the entity behind this 'whale' wallet chose not to take profits by selling on the open market. Instead, in a move widely interpreted as profoundly bullish for Ethereum's future, the holder executed a careful transfer of the entire fortune to a new wallet and committed it to staking on the network. The activity commenced with a cautious 5 ETH test transaction, a common practice to verify wallet control and network conditions, before the remaining 39,995 ETH were moved to destination address 0x2602. This action, occurring as of early December 2025, sends a powerful signal to the market. For a holder who participated in Ethereum's initial coin offering and weathered numerous market cycles, including the 2017/2018 boom and bust and the 2022 crypto winter, the decision to lock up such a massive sum for staking rewards speaks volumes. It suggests a belief not just in Ethereum's current price, but in the long-term viability and value accrual of its proof-of-stake ecosystem. Staking directly supports network security and functionality, indicating this whale is investing in Ethereum's utility, not just speculating on its price. Analysts point out that such moves from historically patient investors often precede or confirm major bullish phases, as they represent 'strong hands' opting for future yield over immediate liquidity. This event underscores the deepening maturity of Ethereum's economy, where substantial capital is being put to work within the protocol itself, reinforcing the network's fundamentals and potentially foreshadowing a sustained upward trajectory for ETH as staking participation and network activity continue to grow.

Dormant Ethereum Whale Stakes $120M ETH After Decade of Inactivity

A pre-ICO Ethereum address holding 40,000 ETH (worth $120 million) suddenly activated after ten years of dormancy. Rather than liquidating the holdings, the whale transferred the entire balance to a new wallet and staked the funds—a bullish signal for ETH's long-term prospects.

The movement began with a 5 ETH test transaction before transferring the remaining 39,995 ETH to address 0x2602. Blockchain analysts note this contrasts with typical ICO whale behavior, where large holders usually dump tokens on exchanges.

This staking decision coincides with Ethereum's transition to proof-of-stake consensus, suggesting institutional-grade confidence in the network's sustainability. The whale's patience mirrors early Bitcoin adopters who held through multiple market cycles.

Ethereum Plunges Below $3,000 as Market Liquidation Tops $500 Million

Ethereum’s price tumbled more than 10% in 24 hours, breaching the $3,000 support level and triggering a cascade of liquidations. Over $500 million in long positions were wiped out, with Ethereum-related contracts accounting for $140 million of the total. Trading volume spiked 200% to 33.2 billion as the broader crypto market fell nearly 7%.

The sell-off erased $200 billion in market value within hours, extending Ethereum’s 30-day decline to 20%. Technical indicators show oversold conditions, with the RSI at 32. Key support levels now loom at $2,700 and $2,500.

Amid the turmoil, Ethereum’s Fusaka upgrade went live on December 3, enhancing LAYER 2 transaction capacity. The upgrade marks Ethereum’s second major network improvement this year—a bid to bolster scalability as volatility rattles investors.

Yearn Finance Recovers $2.4M After $9M yETH Exploit

Yearn Finance has clawed back $2.4 million of the $9 million lost in a yETH exploit that rattled the DeFi ecosystem in late November. The recovery, coordinated with Plume and Dinero, involved retrieving 857.49 pxETH—a rare bright spot in an attack that exposed vulnerabilities in legacy smart contracts.

The breach targeted Yearn’s custom-coded yETH stableswap pool, bypassing safeguards common in Curve-based systems. Attackers exploited an arithmetic flaw to mint excessive yETH, draining nearly $9 million across two pools before being halted.

Reimbursements for affected users are imminent as Yearn continues forensic efforts. The protocol’s post-mortem analysis will likely intensify scrutiny of unaudited legacy code in DeFi—a persistent weak point during crypto’s bull market.

Ethereum Fusaka Upgrade Goes Live Dec 3, Will ETH Price Rise

Ethereum's Fusaka upgrade, scheduled for December 3, 2025, promises to enhance the network's scalability and efficiency. The introduction of PeerDAS (Peer Data Availability Sampling) will reduce validator bandwidth by up to 85%, lowering operational costs for node operators. Additionally, the block gas limit will increase from 36 million to 60 million, accommodating more transactions per block.

Market participants are speculating whether these technical improvements will catalyze a price rally for ETH. The upgrade aims to address long-standing issues of high fees and slow transaction times, potentially attracting more developers and users to the ecosystem.