After lying dormant for over three years, a significant Ethereum 
$1,740 whale has reawakened by transferring 150,000 ETH to a staking address. This move follows the action of three different addresses, which were involved in Ethereum’s initial coin offering (ICO) in 2014, transferring a total of $646 million worth of ETH. These addresses last showed activity in February 2022.
Activity of Ethereum ICO Participants
According to data from EmberCN, these transfers occurred on Thursday evening. All involved addresses were participants in Ethereum’s ICO, conducted between July 22 and September 2, 2014. During this ICO, over 60 million ETH were sold, securing $18.3 million in funds, with Ethereum trading at an average price of $0.31 per ETH at that time.
These addresses had not executed any ETH transfers since February 2022. The redirection of long-dormant assets to staking addresses indicates that a specific portion of ETH supply is becoming active once again.
Recent months have seen similar actions from other Ethereum ICO participants. In August, one address transferred approximately $19 million worth of ETH to the Kraken exchange, followed by an additional transfer of 1,060 ETH. Additionally, another ICO address moved 2,300 ETH to Kraken last month.
Current Status of ETH and Market Perspectives
At the time of these transfers, the price of ETH had decreased by 1% over the past 24 hours, reaching $4,331. In contrast, Bitcoin 
$61,871 experienced a 0.7% increase, reaching $111,519.
The Ethereum network facilitates staking, allowing users to lock their assets in a validation mechanism to earn passive income. Redirecting large-scale ETH transfers to staking addresses increases the network’s total locked value. The reactivation of ICO participants impacts Ethereum’s circulating supply dynamics, making previously acquired substantial ETH holdings visible in the market once more.
