Ethereum ICO Whale Awakens After 11 Years, Moves $5M In ETH

An Ethereum address that participated in the network's initial coin offering (ICO) in 2015 has reactivated after approximately 11 years of dormancy. The address, part of a cohort of wallets that received ETH during the genesis phase, moved 2,680 ETH valued at around $5.04 million to a new wallet.

The transfer was flagged by blockchain tracking service The Data Nerd and has garnered attention from on-chain analysts monitoring early investor behavior. This type of activity is closely watched because it represents supply that has been locked away for years, often belonging to early miners, developers, or adopters who accumulated at extremely low prices.

The Ethereum ICO sold ETH at around $0.31 per token, meaning the original cost basis for these tokens would have been under $1,000 for the entire 2,680 ETH, compared to the current market value of over $5 million.