Blockchain data indicates that an early Ethereum investor moved 334.7 ETH, remaining untouched for over 10 years. This transaction is of keen interest to traders and analysts.
Investment History in Ethereum
According to analytics firm Lookonchain, the investor originally purchased 334.7 ETH during Ethereum's initial coin offering in 2014 for $104. The wallet had shown no activity since the ICO, which raised over $18 million in 2015.
Return on Investment and Market Status
Current market conditions suggest that the 334.7 ETH could be converted into nearly $1.5 million, indicating an astounding 14,000x profit. On its 10th anniversary, Ethereum became the second-largest blockchain network by market value, trailing only Bitcoin.
Trends of Long-term Investors
Recent events have also shown a trend of long-dormant crypto wallets springing back to life. In recent weeks, a movement of old bitcoins worth around $9 billion was recorded. Such activities often spark speculation about market impact, although they rarely lead to immediate selling pressure.
Movements from old wallets are often seen as significant market indicators. Simultaneously, these large transfers may represent asset redistribution for security or inheritance purposes.
