Ethereum ICO Investor Emerges After Nine-Year Hiatus to Transfer Millions in ETH: On-Chain Analysis
An original participant in an Ethereum initial coin offering (ICO) has recently taken action after years of dormancy, moving a substantial amount of ETH, as per data from Lookonchain, a blockchain tracking company. The whale, who engaged in Ethereum’s ICO in 2014 and acquired 2,000 ETH, now valued at approximately $6.7 million, has transferred over half of their inactive ETH holdings, specifically 1,111 ETH worth $3.7 million, to a new wallet. This transaction took place nine years after the launch of the Ethereum network project on July 30, 2015.
The current trading price of Ethereum stands at $3,319, showing a slight increase in the past 24 hours. The reason behind the individual’s transfer of ETH to the new wallet remains unclear. Notably, during the ICO, the whale acquired 1,111 ETH for about $344, given that the ICO price of ETH was $0.31. This investment has yielded a return of over 1,000,000%.
Lookonchain also reports a surge in crypto whales accumulating significant amounts of Bitcoin (BTC) from Binance, the leading crypto exchange by trading volume, and major exchange Bitfinex. One whale, identified as ’12QVsf,’ withdrew 4,500 BTC ($302 million) from Binance within the last 22 hours. Additionally, three wallets, potentially owned by the same whale, withdrew 1,400 BTC ($94 million) from Bitfinex on July 30 and an additional 2,510 BTC ($163 million) on June 20. Notable wallet addresses include 12QVsfAFv5RsHuqx4i9WsNGJPeiYLoN2qo, 3BTSgrNF7MhZEqCWYYK8mSp9YMTz1ZkgRX, and 3ADUencNf9zzxMvz7QmJtgU5EsBXg1ScEZ. Bitcoin is currently trading at $66,143, reflecting a 2.5% decrease in the last 24 hours.
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