- An Ethereum whale from the network’s 2014 ICO has moved their entire stash of 334.7 ETH, worth over $1.5 million, after a decade of inactivity.
- The original investment of just $104 in the ICO has now yielded a potential return of over 14,269x for the owner.
- This move is part of a growing trend of long-dormant wallets from both the Bitcoin and Ethereum networks becoming active again as prices continue to rally.
A dormant Ethereum wallet untouched since the network’s earliest days came back to life, moving a stash worth over US$1.5M (AU$2.30M) after a decade of inactivity.
Blockchain data flagged by Lookonchain shows the long-silent address first pushed through a small test transfer before moving its full stack of 334,7 ETH into a brand-new wallet with no prior history.
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ICO Era Whale Wakes Up
Note that the wallet owner originally put in just US$104 (AU$159) during the network’s 2014 initial coin offering (ICO). That’s a 14.269 return if they choose to sell.
The old wallet had remained inactive ever since the ICO, which preceded the network’s official launch in July 2015.
The price of ETH cemented its price above the US$4K (AU$6.1K), levels not seen since 2021. This milestone has reignited enthusiasm and speculation across the crypto market, with institutions and crypto ETFs gobbling up ETH in recent weeks. Moreover, Thomas Lee, Head of Research at Fundstrat, believes the asset could reach a staggering price of US$15K (AU$23K) by the end of 2025
Will they sell? No way to know, but the chances are high. As Crypto News Australia reported, 7 Siblings, a network of ETH wallets, sold 19.461 ETH at an average price of US$4,532 (AU$6,922).
All in all, dormant wallets are waking up more and more as prices take an upswing, and not just Ethereum. In July, a Satoshi-era Bitcoin address moved a massive US$9B (AU$13.8B) worth of BTC in a sale executed through Galaxy, a transaction that miraculously left Bitcoin’s price steady. Earlier this month, another dormant whale moved nearly US$350M (AU$534M) to newly generated wallets.
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