Ethereum ICO Participant Wakes Up After 9 Years of Dormancy

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Alex Dovbnya

An Ethereum address that dates back to the ICO era has sprung back to life

Ethereum ICO Participant Wakes Up After 9 Years of Dormancy

According to blockchain analytics platform Lookonchain, an Ethereum (ETH) address recently emerged from more than nine years of dormancy to deposit 5 ETH (roughly $13,000 at current prices) to the Kraken cryptocurrency exchange.

This specific participant in the initial coin offering (ICO) received a total of 2,000 ETH for $620.

The Ethereum ICO, which took place between late July and early September 2014, secured a total of $18 million worth of funding. The Ethereum blockchain ended up going live in July 2015.

Earlier this year, another ICO participant deposited more than $9 million worth of ETH into Kraken after several years of dormancy.

Ether is currently trading at $2,625, according to data provided by CoinGecko. The price of the second-largest cryptocurrency has slipped by 1%.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].