Unprecedented Ethereum Transaction Unveils Long-Held Crypto Wealth From ICO Era
In recent weeks, dormant bitcoin addresses have shown a notable resurgence in activity, mirroring a similar trend observed with older ethereum addresses.
Over the weekend, a significant event unfolded as an individual who participated in the Ethereum initial coin offering (ICO) moved 2,000 ether, marking the first such transaction since 2015. During the ICO on July 22, 2014, investors purchased ETH at a rate of 2,000 ETH for a single BTC, totaling seven million ether in the initial half-day. The recent transaction, detected by onchain alert site whale-alert.io, originated from an address established in July 2015, a year after the ICO’s launch.
Despite ETH’s value rising from $0.31 to $2.92 per ether by July 2015, the investor chose to hold onto the coins until now, resulting in a stash valued at $6.8 million. This event sheds light on the dynamics of the Ethereum ICO and the decisions made by early investors over the years, as evidenced by the activation of vintage ethereum addresses amidst the cryptocurrency’s ongoing market developments.
Clever Robot News Desk 25th March 2024
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