An anonymous Ethereum user who participated in the ICO unexpectedly resumed activity after 10 years of dormancy. This event follows significant changes in the cryptocurrency market.
Overview of the Wallet
The wallet, which participated in Ethereum's ICO, acquired 1,000 ETH at an ICO price of $0.31 per token, equivalent to $310. The recent transaction where 1 ETH was transferred has sparked considerable interest within the crypto community.
Market Impact
The profit generated by the user amounts to approximately 787,000%, turning $310 into an impressive $2.44 million at current prices. Despite this, ETH is currently priced at $2,459 and is down 49.8% from the all-time high set in late 2021. Such significant transactions can influence market sentiment, and when an ancient holder starts moving, it usually indicates an intention to sell.
Expert Predictions and Opinions
The recent awakening of one of the oldest ETH holders coincided with another dormant whale transferring $12 million, who obtained 107,000 ETH in 2016. Additionally, SkyBridge Capital founder Anthony Scaramucci suggests that Solana may surpass ETH in market capitalization in the coming years, although he did not specify a timeline.
The unexpected activation of the long-dormant Ethereum wallet raises questions about the market, and the consequences of turning a small investment into significant sums generate interest among both experts and investors.
