On July 30, an Ethereum ICO participant moved 2000 ETH (~$6.6 million) for the first time in nine years, distributing them across two new addresses. The transactions were highlighted by Lookonchain.
An #Ethereum ICO participant woke up after 9 years of dormancy and transferred 1,111 $ETH($3.7M) to a new wallet.
He received 2,000 $ETH($6.67M) at #Ethereum Genesis, the $ETH ICO price is ~$0.31.https://t.co/5RySljuw7R pic.twitter.com/fMoaDcmFfB
— Lookonchain (@lookonchain) July 30, 2024
The coins were received on July 30, 2015, when the price of the second-largest cryptocurrency by market capitalization was approximately $0.31. This is over 10,000 times lower than the current rates.
The user initially made two likely test transfers of 1 ETH each. This was followed by transactions of 10, 100, 1000, and ~738 ETH to one of the new addresses, as well as 100 and 50 ETH to another.
“He finally found the seed phrase,” users jokingly commented.
In April, another Ethereum ICO participant transferred 1069 ETH to the Kraken exchange. The asset’s price at that time was roughly equivalent to the current rate, with the coins valued at ~$3.56 million.
In January, a wallet dormant since the initial distribution of the asset sent a test transaction of 0.01 ETH. Four days later, the user transferred the entire sum of ~200 ETH.
In July 2023, another ICO participant moved 641 ETH for the first time. The coins were valued at $1.2 million at that time.