An Ethereum ICO participant resurfaced on Tuesday, transferring many of his holdings to a new wallet. This activity coincides with Ethereum’s ninth anniversary.
Lookonchain identified this transaction, revealing that the early investor moved 1,111 Ethereum (ETH) tokens, valued at $3.7 million, to a different wallet.
This particular address originally received 2,000 ETH tokens during the ICO.
“An Ethereum ICO participant has become active after 9 years of inactivity and transferred 1,111 ETH ($3.7M) to a new wallet. This participant received 2,000 ETH ($6.67M) at Ethereum Genesis, where the ETH ICO price was approximately $0.31,” Lookonchain reported.
An #Ethereum ICO participant woke up after 9 years of dormancy and transferred 1,111 $ETH($3.7M) to a new wallet.
— Lookonchain (@lookonchain) July 30, 2024
He received 2,000 $ETH($6.67M) at #Ethereum Genesis, the $ETH ICO price is ~$0.31.https://t.co/5RySljuw7R pic.twitter.com/fMoaDcmFfB
Background and Previous Investor Activities
An ICO, or initial coin offering, is distinct from a project's launch date.
During an ICO, projects sell digital tokens or coins to investors in exchange for funding.
The Ethereum ICO participant involved in this latest transfer originally acquired his tokens during Ethereum’s ICO phase.
This transaction by the ICO participant marks Ethereum’s ninth birthday since its launch on July 30, 2015.
Similarly, in 2023, another early investor reappeared after eight years of inactivity, moving 8,000 ETH worth $14.7 million to a new wallet.
In another notable event that year, an investor who had received 60,000 ETH during the ICO created a contract and staked 4,032 ETH, which was valued at $7.4 million at the time.
Also read: Top 5 Altcoins Worth Your Investment in 2024
Trends Among Ethereum Investors and Price Performance
Ethereum whales, or large holders, have been increasingly cashing out their investments.
Data shows a decline in the number of addresses holding over 1,000 coins, reaching multi-year lows.
This trend justifies how Ethereum ICO participants are realizing gains from their 2014 investments when Ethereum held its ICO.
CoinGecko's reports on Ethereum prices over the years illustrate the token's value growth.
ETH surged 649% between 2020 and 2021 but remained below $2,000 for the subsequent two years.
In March 2024, the price climbed above $3,000 and touched $4,000 amid excitement over the approval of Ethereum ETFs (exchange-traded funds).
Also read: How Spot Ethereum ETFs Performed After the First Week
Reflecting on key statistics from Ethereum’s ICO a decade ago, the 2077 Collective notes the following:
- The Ethereum ICO took place from July 22 to September 2, 2014.
- The ICO raised $18.3 million in Bitcoin.
- Approximately 60 million ETH were sold to contributors during the ICO.
- Contributions came from over 11,000 different buyers.
Ethereum’s current value, 2,552.9% above its ICO price of $0.13, shows growing investor confidence and interest in the ecosystem and its potential applications.
Network co-founder Vitalik Buterin celebrated Ethereum's ninth anniversary with a post on X, expressing optimism for the future.
“Happy 9th birthday, Ethereum! Looking forward to seeing what the next decade brings,” Buterin wrote.
Despite recent customer redemptions from Grayscale ETFs, which have affected performance, Ethereum is trading at $3,276, which is a 2.03% decline since Tuesday’s opening.