Ethereum ICO participant moves $6 million in ETH after 8-year dormancy: onchain data

An early Ethereum investor has emerged from nearly eight years of inactivity, transferring 1,500 ETH worth roughly $6 million to crypto exchange Kraken, onchain data shows.

Onchain data analysis providers Lookonchain and Onchain Lens reported Wednesday that the wallet "0x60D…E932" transferred a total of 1,500 ETH to Kraken in two transactions early Wednesday morning. The address recorded its last outbound activity in January 2018.

The investor was among the participants in Ethereum's 2014 initial coin offering, and received 20,000 ETH for $6,200 at Genesis in 2015 via its wallet "0x369…CD82," according to Lookonchain. The Ethereum ICO, held in 2014, raised about $18.3 million by selling over 60 million ETH tokens at an average price of $0.31 per ETH.

A number of Ethereum ICO whales have resurfaced recently as crypto reached new highs this year. In August, an Ethereum ICO participant transferred around $19 million worth of ETH to Kraken, then further offloaded 1,060 ETH in the following days. Another Ethereum ICO address also sent 2,300 ETH to Kraken in August. Last month, it was reported that an ICO participant moved 150,000 ETH through three wallets to a staking address.

Ethereum slid 1.1% in the past 24 hours to $4,033 as of 2:15 a.m. ET Wednesday, according to The Block's price page. It rose 4% over the past three months and was up 52.7% over the past year.

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