A long-dormant Ethereum wallet, belonging to one of the network’s original ICO participants, has come back to life after nearly eight years of silence.
According to on-chain data from Lookonchain, the address — which received 20,000 ETH during Ethereum’s 2015 initial coin offering — has just made its first transaction since the project’s launch. The wallet transferred 1,500 ETH (around $6 million) to the centralized exchange Kraken.
At current market prices, the holder’s remaining balance is valued at more than $80 million. Back in 2015, the same amount of ETH was purchased for approximately $6,200, marking a staggering 12,900x return on investment.
At the time of Ethereum’s ICO, ETH traded for about $0.31 per token. Today, the price has climbed to over $4,000, highlighting the incredible growth of the world’s second-largest cryptocurrency.
This event follows a recent trend of long-term holders and early investors reactivating their wallets as ETH continues to approach multi-year highs. Earlier this year, another early ICO participant moved nearly $1.5 million worth of ETH after a decade of dormancy.
