HomeEthereumDormant ICO-era Ethereum wallet wakes up abruptly after eight years with 588.609%...

Dormant ICO-era Ethereum wallet wakes up abruptly after eight years with 588.609% gains


An original Ethereum (ETH) investor moved around $14.7 million into the leading altcoin this weekend after staying with it for nearly eight years.

A participant in the 2014 ETH initial coin offering (ICO) received 8,000 ETH from the Ethereum genesis block in July 2015, then held it until last Saturday, when the large entity dumped all of the Ethereum into an unknown wallet.

Cryptocurrency tracker Lookonchain first reported the transaction.

The Etherscan blockchain tracking service shows that the deep-pocketed investor paid just over $1 to process the large ETH transaction.

The initial offering price of the Ethereum coin was around $0.31, compared to $1,825 at the time of the transaction on Saturday, meaning the value of the ICO participant’s 8,000 ETH skyrocketed. from about $2,480 at the time of purchase to about $14.7 million nearly eight years later, an eye-popping increase of about 588,610%.

At Ethereum’s all-time high price of $4,878, which it reached in November 2021, the 8,000 ETH would have been worth more than $39 million.

The receiving wallet appears to have been created for recent transactions. The address also received 207.8 ETH from an unknown third wallet on Saturday, and currently holds around 8,207.8 ETH with a value of more than $15.5 million, according to Etherscan.

Ethereum is trading at $1,892 at the time of writing. The second-ranked crypto asset by market capitalization is up 2.5% in the last 24 hours and nearly 6% in the last seven days.

Don’t miss a thing: sign up to receive crypto email alerts straight to your inbox

Check Price Action

follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

Check the latest news headlines


Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investment in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any loss you may incur is your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and The Daily Hodl is not an investment adviser. Please note that The Daily Hodl is involved in affiliate marketing.

Image generated: halfway


Quant Analyst PlanB Says Bitcoin Bull Market Is Underway, Predicts BTC Will Outperform Major Asset Classes

Closely watched quant analyst PlanB says Bitcoin (BTC) is now on track to expand by trillions of dollars to compete with some of the largest...

Bitget Reinforces Its Leadership In Smart Cryptocurrency Trading With Rebranding Initiative

Bitget, a leading crypto derivatives and copy trading platform, announced a rebranding initiative on July 25, 2023, with the aim of reinforcing its position as...

Coinbase vs. SEC: Key dates and details for upcoming court hearings

The legal battle between Coinbase, a major cryptocurrency exchange, and the United States Securities and Exchange Commission (SEC) has reached a significant milestone. Hearing...

Benjamin Cowen Issues Cardano Warning, Says ADA Repeats Hard Times of 2019

Widely followed crypto analyst Benjamin Cowen warns that Ethereum (ETH) rival Cardano (ADA) is repeating a downward pattern from 2019. In a new strategy session, Cowen...

Most Popular