An Ethereum (ETH) initial coin offering (ICO) participant woke up this weekend after nearly three years of dormancy, according to the crypto tracker Lookonchain.
Lookonchain notes the ICO participant deposited 1,555 ETH worth $4.86 million into the crypto exchange Coinbase on Sunday.
The unknown address received 6,292 ETH during the 2014 ICO, costing $1,951 in total. Lookonchain says that same total is now worth more than $20.15 million, a staggering 1,032,703% increase.
It’s not the only notable wallet to move its ETH recently.
Lookonchain also notes that a giant whale that at one point held 398,891 ETH worth $1.28 billion has sold 46,853 ETH for 138.8 million USDC since November 7th. The whale has sold at an average price of $2,920, according to the crypto tracker.
However, other whales seem to be accumulating Ethereum.
Lookonchain also points out four fresh wallets that withdrew 12,499 ETH worth $40 million from the crypto exchange Binance on Sunday.
ETH is trading at $3,316 at time of writing, up more than 3.5% in the past day, more than 37% in the past week. Despite its recent gains, the second-ranked crypto asset by market cap still remains more than 32% down from its all-time high of $4,878, which it set back in November 2021, according to data from CoinGecko.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Generated Image: Midjourney
Read the full article here