On-chain data tracked by Lookonchain shows the wallet, which initially spent just $104 during Ethereum’s 2014 ICO, transferred 334.7 ETH worth nearly $1.5 million today. Before shifting the full amount, the investor sent a small test transaction, then directed the entire balance into a new wallet with no prior history.
If the investor decides to cash out, the move would mark one of crypto’s most extraordinary gains — a return of roughly 14,269x at today’s prices. The original wallet had shown no activity since the ICO, when Ethereum raised funds to build what would later become the world’s second-largest blockchain. The Ethereum network officially launched on July 30, 2015, and recently celebrated its ten-year anniversary.
The Ethereum whale’s reemergence follows a series of movements from long-dormant wallets across the digital asset space.
Just weeks ago, a Satoshi-era Bitcoin investor shifted $9 billion worth of BTC in one of the largest transactions of its kind, facilitated by Galaxy. Despite the size of the move, Bitcoin’s price remained relatively stable.
Ether (ETH) is currently trading around $4,426, mostly flat on the day. Meanwhile, U.S.-based spot Ethereum ETFs are seeing record-breaking activity, posting $2.9 billion in inflows last week along with trading volumes that nearly matched those of Bitcoin ETFs. These inflows highlight the growing role of Ethereum in institutional portfolios as it enters its second decade.
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