Ethereum ICO wallet moves $1.5 million in ETH, originally purchased for $104

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An early Ethereum investor moved a stash of ETH worth nearly $1.5 million today after more than 10 years of inactivity.

Their initial investment? Just $104 at the time, according to Lookonchain, which first noted the transaction.

The wallet sent a test transaction before sending their stash of 334.7 ETH to a fresh wallet, onchain data shows. The fresh wallet has no activity, but if the investor is intending to cash out, they would lock in a return of around 14,269x at current prices. The investing wallet had no activity following the ETH ICO, which began in July 2014.

The network officially launched the next year, on July 30, 2015. Ethereum recently celebrated its ten-year anniversary as the world's second most valuable blockchain, after only Bitcoin.

A number of well-capitalized dormant wallets have awoken in recent weeks, the largest such move being $9 billion worth of Bitcoin from a Satoshi-era investor. The sale was facilitated by Galaxy, and Bitcoin's price remained mostly stable following the massive move.

Ether is currently trading mostly flat on the day around $4,426, according to The Block's Ethereum price page. U.S.-based spot Ethereum ETFs had their best inflow and volume week on record last week, with $2.9 billion worth of inflows and nearly as much trading volume as the Bitcoin funds.

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Ethereum ICO wallet moves $1.5 million in ETH, originally purchased for $104

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