A remarkable event has occurred in the crypto world: an Ethereum ICO participant, who had not exhibited activity in their wallet for ten years, has resurfaced and transferred 1 ETH.
Long-Awaited Wallet Movement
Blockchain data from Lookonchain confirms that the address storing ETH had been inactive for 10 years. This past Sunday, the 'whale,' holding a significant amount of Ethereum, initiated a transaction moving 1 ETH.
Growth of ETH Value and Its Impact
An initial investment around $310, used to purchase 1,000 ETH at approximately $0.31 per token, is now valued at about $2.44 million. This represents a 787,000% increase since the purchase. Notably, the address obtained ETH at roughly $0.31 during the ICO period.
What This Means for the Market and ETH's Future
The reactivation of such investors raises questions about the potential impact on the market. Recently, another long-dormant address from the same period transferred $12 million worth of ETH to the Kraken exchange. Given that Ethereum is currently trading nearly 50% below its all-time high, this event draws attention and prompts discussions about the possible actions of other dormant ICO participants.
The activity of long-dormant ICO participants can often indicate potential shifts in the market. However, the future of ETH remains uncertain, despite recent growth and interest in projects related to scaling and token integration.
