The ICO era, which has been dormant for a long time, has surprised Ethereum investors. The investor of the altcoin king, Ethereum (ETH), made a move after a very long period of eight years and transferred ETH worth $1.2 million.
It Was Revealed That ETH was Moved to Stake
Another transfer from Ethereum investors, who have been dormant for a long time in the initial coin offering (ICO) era, shows that the activity in such transactions continues.
Data shows that a wallet address participating in Ethereum’s ICO transferred ETH for the first time in eight years and transferred 641 ETH worth approximately $1.2 million. On-chain data tracker Lookonchain reported that the wallet address moved the mentioned ETH to stake them and that the transfer was not made for the purpose of selling.
Looking at the details of the wallet address in question, it can be seen that it purchased 2,000 ETH at a price of $0.31 per ETH more than 2,922 days ago, during the period when Ethereum was born. The wallet address invested $620 in 2,000 ETH at that time, and the current value of their assets is over $3.71 million. On November 16, 2021, when the ETH price reached an all-time high (ATH) of $4,891, the value of the ETH in the wallet address exceeded $9.7 million.
Movement of ICO Era Ethereum Investors
Furthermore, this is not the first transfer seen from ICO era Ethereum investors after a long period of inactivity. Earlier this month, it was observed that an ICO era Ethereum investor transferred 61,216 ETH, equivalent to over $116 million at the time, to the cryptocurrency exchange Kraken.
Before this major transfer, it was observed that ETH worth $15 million was transferred in May, and significantly lower amounts of ETH were transferred compared to these transfers in April.