From Dream to Reality: Ethereum ICO Participant's Surprise - $4.42M Worth of ETH Unlocked After 8 Years
An Ethereum wallet that participated in the ICO in 2016 and remained inactive for over seven years has recently made its first transaction, transferring one ether (ETH) to a new address, according to a tweet from on-chain analysis firm Lookonchain. Speculation in the crypto community suggests it could be a test transaction as no other activity has been recorded since the ICO. The wallet initially received 2,365 ETH, valued at around $733.51 during the ICO, but the current market price of ETH has increased the value of the assets to approximately $4.36 million, reflecting an ROI of nearly 600,000%. This wallet is now among the growing list of previously dormant addresses that have recently become active and started transferring their assets, with other examples reported in both Ethereum and Bitcoin (BTC) networks. For instance, a Bitcoin wallet that received 6,071 BTC in 2013 recently sent 2,071 BTC to a new address, with the total value of the stash skyrocketing to $176 million by April 2023, compared to over $4 million at the time of the initial transaction. Similarly, in March 2022, another Bitcoin address that had been inactive for 11 years and held 489 BTC worth $50 in 2010, saw the value of its assets soar to over $20 million by the activation date.