An original Ethereum (ETH) investor just unloaded the vast majority of their holdings after staying inactive for nearly eight years.
A participant in Ethereum’s 2014 initial coin offering (ICO) received 2,635 ETH from the Ethereum genesis block in July 2015, then sat on those holdings until Sunday, when the wallet sent one ETH to a separate address, according to Blockchain tracker Lookonchain.
Then, on Monday morning, the ICO participant sent another 2,359 ETH to the same address, according to the blockchain-surveilling service Etherscan.
The Ethereum initial coin offering price was around $0.31, compared to $1,842 at time of writing, meaning the value of the ICO participant’s 2,635 ETH skyrocketed from around $816.85 at time of purchase to more than $4.85 million nearly eight years later, an eye-popping increase of about 594,000%.
At Ethereum’s all-time high price of $4,878, which it hit in November 2021, the 2,635 ETH would have been worth more than $12.85 million.
The ICO participant wallet still holds nearly 5 ETH worth about $9,210, as well as $227 in various altcoins.
The receiving address appears to have been created for the recent transactions and still holds all 2,360 ETH it was sent. It does not possess any other assets.
ETH is down more than 1% in the past 24 hours and more than 11.1% in the past seven days, though it remains up more than 53% since the start of the year.
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