Key Points:

  • After 7.7 years have passed since the day on which the investor participated in the Ethereum ICO round at the price of 1 ETH = $0.31, the investor is considered to have “fallen asleep” as an investment.

  • The wallet address in question was given 2,365 ETH, which, based on its current value, is equivalent to around $4.42 million USD.

After 7.7 years, an Ethereum address that had previously taken part in an Initial Coin Offering (ICO) has been brought back online.

In block 17110898, which was timestamped more than 14 hours ago, this address sent one ether to a new address. Some people believe that this transaction may have been a test transaction. This is the very first transaction that the wallet has ever sent.

According to the findings of the chain analytics account Lookonchain, the wallet in issue was credited with 2,365 ETH at Ethereum’s launch date. At the time, this amount was equivalent to around $4.42 million in USD.

An Ethereum ICO participant woke up after 7.7 years of dormancy and transferred 1 $ETH to a new address.He received 2,365 $ETH($4.42M currently) at Ethereum Genesis, the ETH ICO price is ~$0.31.https://t.co/hOfBSyml19 pic.twitter.com/yoMoB6vE9n

— Lookonchain (@lookonchain) April 24, 2023

During the initial coin offering for Ethereum, the price of one ETH was close to $0.31. The price of ETH as of right now is $1,860. The activity (or lack of activity) of Ethereum ICO participants is shown through data obtained from Etherscan. These people have been idle for more than 2823 days. Etherscan is the cited source.

According to information provided by Etherscan, participants in the Ethereum ICO have not been active for more than 2823 days. Activity from participants in the Ethereum ICO after a lengthy slumber follows two transactions from ancient Bitcoin whale addresses that are identical in nature.

On April 21, a Bitcoin whale who had remained dormant for the previous ten years moved 279 Bitcoins, which were valued around $7.8 million at the time of the transaction, to three different addresses. This transaction takes place barely a day after another Bitcoin whale that had been idle for nine years moved 2,071.5 BTC, which at the time was equivalent to US$60.7 million.

certain people believe that certain veteran crypto users are moving old monies to new wallets as part of a purported withdrawal operation that is directed at old wallets. Although the particular reasons for these changes remain unknown, some people suspect that this action is taking place.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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