Ahmed Ali An Ethereum wallet, dormant since the initial coin offering (ICO) eight years ago, recently became active as it transferred 61,216 Ether to the cryptocurrency exchange, Kraken, according to onchain metrics. This event is noteworthy as it is the fourth occasion this year that previously dormant Ether ICO tokens have been activated, with nearly 80,000 Ether coming into play in 2023.
After 8 Years of Inactivity, Ethereum ICO Whale Shifts $116 Million Worth of Ether
The blockchain analytics tool, Whale Alert, drew attention to this significant movement of 61,216 Ether on July 18, 2023, after an inactive period of eight years. The transaction was also noted by onchain market observers Lookonchain, who highlighted that the user originally purchased the Ether at a cost of around $0.31 per token during the Ethereum ICO, which ran from late July to early September 2014.
While the original investment was under $20,000, the value of these Ether tokens is now a staggering $116.5 million, according to current exchange rates. The funds were transferred to a wallet associated with the exchange Kraken. Prior to this transaction, Whale Alert recorded the movement of 8,000 ETH from another ICO wallet on May 27 of this year.
There were more significant transfers earlier in 2023; on April 23, an additional 2,365 ETH became active from the 2014 ICO, following a transfer of 7,900 ETH on April 14. In total, these four ICO participants have transferred 79,481 ETH, currently valued at $151.26 million. Before these significant moves, there was a transfer of 2,075 Ether on November 23, 2022. It’s worth noting that in November 2022 alone, three instances of ETH ICO activations occurred, and another 200 ETH were activated on October 25, 2022.
We invite your thoughts on the sudden resurgence of previously dormant Ether ICO tokens in 2023 and the consequential major transfer to Kraken. Please share your views and insights on this subject in the comments section below.
Table Of Contents
Frequently Asked Questions (FAQs) about Dormant Ether ICO Tokens Activation
What happened to the dormant Ether ICO tokens in 2023?
In 2023, nearly 80,000 previously dormant Ether ICO tokens were activated and came into play. This includes a notable transfer of 61,216 Ether from a previously inactive wallet to the cryptocurrency exchange, Kraken.
Who noticed the activation of dormant Ether ICO tokens?
Whale Alert, a blockchain analytics tool, and Lookonchain, onchain market observers, both reported the reactivation of the dormant Ether ICO tokens.
How much were the Ether tokens originally purchased for?
The user originally acquired the Ether tokens at a price of around $0.31 each during the Ethereum ICO which took place from late July to early September 2014.
What is the current value of the Ether tokens that were transferred?
At current exchange rates, the 61,216 Ether tokens transferred to Kraken are worth approximately $116.5 million.
Were there other significant transfers of Ether ICO tokens in 2023?
Yes, there were other significant transfers in 2023. Before the large transfer of 61,216 Ether, 8,000 ETH were moved from an ICO wallet on May 27. On April 23, an additional 2,365 ETH from the 2014 ICO became active, following a transfer of 7,900 ETH on April 14. These four participants together moved a total of 79,481 ETH, valued at $151.26 million.
Were there any activations of dormant Ether ICO tokens in 2022?
Yes, there were activations in 2022 as well. Three instances of ETH ICO activations occurred in November 2022, and another 200 ETH were activated on October 25, 2022.
More about Dormant Ether ICO Tokens Activation
- Ethereum Initial Coin Offering (ICO)
- Kraken Cryptocurrency Exchange
- Blockchain Analytics Tool – Whale Alert
- Onchain Market Observers – Lookonchain
5 comments
Makes me wonder how much more dormant ether is out there, ready to wake up and shake the market.
Man, i can only imagine what the price spike is going to be like when all the dormant tokens get active. Buckle up!
So the ether is moving to Kraken huh…interesting. Wonder what’s the plan there.
These are the kind of stories that really get me excited about crypto. it shows you the potential growth and returns if you are patient enough. Hodl on, guys!
I was around during the 2014 ICO, only if i knew then what i know now. sigh…