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Ethereum ICO participant’s address springs to life; transfers one Ether after more than 7.7 years
Ethereum ICO participant's address springs to life; transfers one Ether after more than 7.7 years
- Seven and a half years later, an Ethereum address that initially participated in the ICO suddenly transferred one ether.
- The wallet in question received 2,365 ether, worth approximately $4.42 million today, during Ethereum’s genesis.
An Ethereum address that had been dormant for over 7 years has suddenly come to life. The address participated in the blockchain’s initial coin offering (ICO) and transferred one ether to a new address, which some speculate may have been a test transaction. This was the first transaction ever sent from the wallet.
The wallet in question received 2,365 ether, worth approximately $4.42 million today, during Ethereum’s genesis, according to on-chain analysis account Lookonchain. At the time of Ethereum’s ICO, one ether was valued at around $0.31. Today, the price of ether stands at $1,860.
Bitcoin whale addresses display similar activity after long periods of inactivity
The wallet’s activity follows two similar transactions from old Bitcoin whale addresses. On April 21, a bitcoin whale that had been inactive for a decade transferred 279 bitcoins worth $7.8 million to three new addresses. That transaction came a day after another long-dormant Bitcoin whale transferred 2,071.5 BTC worth $60.7 million after nine years of inactivity.
It is unclear why the wallet suddenly became active, but some have speculated that long-time crypto users may be moving old funds to new wallets amid an alleged wallet-draining operation targeting old wallets. However, concrete details on this theory remain scarce.
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Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.
Damilola Lawrence
Damilola Lawrence has covered news on crypto markets and tech for over 5 years. He has previously shared crypto insights and analysis for TheShibMagazine, CryptoMode, Qweens Magazine, and The Recording Academy before pivoting into Web3. At Cryptopolitan, he is a crypto price prediction specialist. After finishing a bachelor’s degree, he has segued into a master’s degree in IT Cybersecurity at Maria Curie-Skłodowska University.
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