According to crypto tracker Lookonchain, an Ethereum (ETH) participant in the Initial Coin Offering (ICO) woke up this weekend after almost three years of dormancy.
Look at chain notes the ICO participant deposited 1,555 ETH worth $4.86 million on the cryptocurrency exchange Coinbase on Sunday.
The unknown address received 6,292 ETH during the 2014 ICO, costing a total of $1,951. Lookonchain says the same total is now worth more than $20.15 million, a staggering increase of 1,032,703%.
It’s not the only notable wallet to move its ETH recently.
Also take a look at Chain notes that a giant whale that at one point owned 398,891 ETH worth $1.28 billion has sold 46,853 ETH for 138.8 million USDC since November 7. According to the crypto tracker, the whale sold for an average price of $2,920.
However, other whales appear to be collecting Ethereum.
Also take a look at Chain points out four new wallets that withdrew 12,499 ETH worth $40 million from the crypto exchange Binance on Sunday.
ETH is trading at $3,316 at the time of writing, up over 3.5% in the past day, and up over 37% in the past week. Despite the recent gains, the second-ranked crypto asset by market cap still remains more than 32% below its all-time high of $.4,878, according to November 2021 data Coin gecko.
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Generated image: Midjourney