Long-Dormant Ethereum ICO Participant Moves 3,000 ETH to Kraken

Ethereum ICO participant has reactivated their wallet after four months of inactivity, transferring 3,000 ETH (worth $7.63 million) to cryptocurrency exchange Kraken.

According to data from Onchain Lens, this participant originally acquired 254,900 ETH during Ethereum’s 2015 ICO at a price of $0.311 per token.

After being dormant for 4 months, an #Ethereum ICO participant has deposited 3,000 $ETH, worth $7.63M, into #Kraken.

The participant received 254,900 $ETH at an ICO price of $0.311 in 2015. Currently, they hold 37,070 $ETH, worth $94.25M.… pic.twitter.com/KJbsnlxk2O

— Onchain Lens (@OnchainLens) October 24, 2024

Early Ethereum investor activity signals market movement

This transaction marks the latest in a series of movements from early Ethereum investors. The wallet holder currently retains 37,070 ETH, valued at approximately $94.25 million, following the recent transfer.

The activity follows a pattern of long-dormant Ethereum whales returning to active trading in recent months.

These movements from early Ethereum investors have drawn market attention due to their potential impact on price dynamics. The ICO participant’s decision to transfer funds to Kraken suggests possible selling pressure, though the majority of their holdings remain intact.

The original investment of $0.311 per ETH in 2015 represents a remarkable return on investment, with Ethereum’s current price reflecting an increase of over 800,000% from ICO levels. This latest transaction highlights the substantial gains realized by early cryptocurrency investors.

The latest movement comes as the ETH price has dropped by over 2.3% in the last 24 hours. After pushing above $2,700 in the past few days, the price has dropped to the $2,500 level now.