A whale wallet transferred $397 million in ETH to Gemini this week after a nine-year period of inactivity, according to reports. The wallet originally acquired the ether in 2017 at approximately $90 per coin. This suggests a profit of around $385 million from holding the asset for almost a decade. The movement of such a large amount of ETH may have implications for the market, but the specific impact remains to be seen.

A whale wallet transferred $397 million in ETH to Gemini this week after a nine-year period of inactivity, according to reports. The wallet originally acquired the ether in 2017 at approximately $90 per coin. This suggests a profit of around $385 million from holding the asset for almost a decade. The movement of such a large amount of ETH may have implications for the market, but the specific impact remains to be seen.