Ethereum ICO Participant Wakes Up to $4.42M in ETH After 8 Years

The wallet that participated in the Ethereum Initial Coin Offering (ICO) in 2016, which has been dormant ever since, finally woke up after seven years and seven months.

according to tweet By on-chain analysis firm Lookonchain, the address moved one ether (ETH) to a new address about 13 hours ago, marking its first transaction. The crypto community speculates that it is a test transaction. However, the ICO wallet has not made any further transactions since then.

• At the time of the ICO, the wallet received 2,365 ETH, worth around $733.51, as the token’s sale price was $0.311. However, the assets are worth around $4.36 million at the current market price of ETH, which indicates approximately 600,000% return on investment.
• The ICO participant has joined a list of previously inactive addresses that have popped up and started transferring their assets. In December, two Ethereum addresses had been idle since October 2018 to make Big transfers of 22,982 ETH for the first time.
• Aside from Ethereum, there have also been reports of dormant Bitcoin (BTC) addresses becoming active again.
• One amazing example is a wallet that received 6,071 BTC in 2013 and more recently sender 2071 BTC to a new address. At the time of the initial transaction, the value of one BTC was $663, and the total value of the wallet was over $4 million.
• However, by April 2023, when it was reactivated, the value of the stash had increased to $176 million, and $60 million worth of assets had been transferred.
• In March 2022, another Bitcoin address Enabled For the first time in 11 years. The address held 489 BTC worth just $50 in 2010. By the date of activation, the assets were worth over $20 million.