{"id":545138,"date":"2023-07-31T10:19:01","date_gmt":"2023-07-31T10:19:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=545138"},"modified":"2023-07-31T10:19:01","modified_gmt":"2023-07-31T10:19:01","slug":"8-year-dormant-ethereum-wallet-just-moved-1-2-million-in-eth-heres-the-destination","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/8-year-dormant-ethereum-wallet-just-moved-1-2-million-in-eth-heres-the-destination\/","title":{"rendered":"8-Year Dormant Ethereum Wallet Just Moved $1.2 Million In ETH, Here’s The Destination"},"content":{"rendered":"

The Ethereum ecosystem has continued to see fascinating developments in the past weeks. Among the most notable is the sudden movement<\/a> from a participant in Ethereum’s initial coin offering (ICO), who, after a roughly eight-year slumber, has sprung into action due to a reason.<\/span><\/p>\n

The Ethereum ICO participant, whose address<\/a> remained inactive for 2,922 days, stirred up by transferring 641 ether, an amount currently valued at nearly $1.2 million.<\/span><\/p>\n

An Unexpected Move In The Ethereum Ecosystem<\/span><\/h2>\n

The intent behind these transactions was revealed through on-chain analytics X (Twitter) account Lookonchain, noting that the Ethereum<\/a> ICO participant had moved the funds to stake them. This reason has raised speculation<\/a> among the crypto community as some suggest that the whale behind this move might know<\/a> something they don’t.<\/span><\/p>\n

Related Reading: Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,900<\/a><\/p>\n

\n

An Ethereum ICO participant woke up after 8 years of dormancy, transferred 641 $ETH<\/a> out, and started staking.<\/p>\n

He received 2K $ETH<\/a>($3.7M currently) at Ethereum Genesis, the ETH ICO price is ~$0.31.https:\/\/t.co\/hGoCb22LVr<\/a> pic.twitter.com\/ZO09r9uFMd<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) July 31, 2023<\/a><\/p><\/blockquote>\n

Just over eight years ago, the same address received exactly 2,000 ETH from Ethereum’s Genesis. This amount of ETH at the time was worth $620 as the\u00a0Ethereum network arranged an exceptional sale event then that made ETH sell for $0.31 per ETH. <\/span><\/p>\n

This event was before the network commenced its own token generation, providing a platform for early participants and co-founders to accrue pre-mined ETH. However, fast forward to nearly a decade later today, this same amount of 2,000 ETH is currently<\/span>\u00a0valued at over $3.72 million, showcasing the meteoric rise in the value of ETH since its inception.<\/span><\/p>\n

Notably, the awakening of this long-dormant Ethereum participant is not an isolated incident. It falls into a recent trend, observed over the summer, where several early ICO participants have begun transferring their ETH holdings.<\/span><\/p>\n

ICO Participants Stirring After A Long Hiatus<\/span><\/h2>\n

This pattern of dormant Ethereum ICO participants springing into action isn’t new. Two weeks prior to the latest transaction, a pre-mined stash of Ethereum, which had been lying dormant for nearly eight years, was abruptly moved<\/a>. At current rates, this stash is estimated to be worth more than $100 million.<\/span><\/p>\n

Related Reading: Pre-Mined Ethereum Worth $116M Moves After 8 Years: Is A Major Price Dip Imminent?<\/a><\/div>\n

This particular ‘whale’ move grabbed the attention of the crypto community, stirring speculation and interest in equal measure. Interestingly, the motives behind this transfer remain largely unknown, adding an element of mystery to the whale movement.<\/span><\/p>\n

Regardless of these ICO participants’ movement on the blockchain, Ethereum has seen a continuous downtrend<\/a> in the past few weeks. Particularly, the asset is currently down by 3.2% in the past 14 days. ETH has declined from a high of trading above $1,900<\/a> to a trading price of $1,866, at the time of writing.<\/span><\/p>\n

\"Ethereum
Ethereum (ETH)\u2019s price is moving sideways on the 4-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ethereum ecosystem has continued to see fascinating developments in the past weeks. Among the most notable is the sudden movement from a participant in Ethereum’s initial coin offering (ICO), who, after a roughly eight-year slumber, has sprung into action due to a reason. The Ethereum ICO participant, whose address remained inactive for 2,922 days, stirred up by transferring 641 ether, an amount currently valued at nearly $1.2 million. An Unexpected Move In The Ethereum Ecosystem The intent behind these transactions was revealed through on-chain analytics X (Twitter) account Lookonchain, noting that the Ethereum ICO participant had moved the funds to stake them. This reason has raised speculation among the crypto community as some suggest that the whale behind this move might know something they don’t. Related Reading: Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,900 An Ethereum ICO participant woke up after 8 years of dormancy, transferred 641 $ETH out, and started staking. He received 2K $ETH($3.7M currently) at Ethereum Genesis, the ETH ICO price is ~$0.31.https:\/\/t.co\/hGoCb22LVr pic.twitter.com\/ZO09r9uFMd \u2014 Lookonchain (@lookonchain) July 31, 2023 Just over eight years ago, the same address received exactly 2,000 ETH from Ethereum’s Genesis. This amount of ETH at the time was worth $620 as the\u00a0Ethereum network arranged an exceptional sale event then that made ETH sell for $0.31 per ETH. This event was before the network commenced its own token generation, providing a platform for early participants and co-founders to accrue pre-mined ETH. However, fast forward to nearly a decade later today, this same amount of 2,000 ETH is currently\u00a0valued at over $3.72 million, showcasing the meteoric rise in the value of ETH since its inception. Notably, the awakening of this long-dormant Ethereum participant is not an isolated incident. It falls into a recent trend, observed over the summer, where several early ICO participants have begun transferring their ETH holdings. ICO Participants Stirring After A Long Hiatus This pattern of dormant Ethereum ICO participants springing into action isn’t new. Two weeks prior to the latest transaction, a pre-mined stash of Ethereum, which had been lying dormant for nearly eight years, was abruptly moved. At current rates, this stash is estimated to be worth more than $100 million. Related Reading: Pre-Mined Ethereum Worth $116M Moves After 8 Years: Is A Major Price Dip Imminent? This particular ‘whale’ move grabbed the attention of the crypto community, stirring speculation and interest in equal measure. Interestingly, the motives behind this transfer remain largely unknown, adding an element of mystery to the whale movement. Regardless of these ICO participants’ movement on the blockchain, Ethereum has seen a continuous downtrend in the past few weeks. Particularly, the asset is currently down by 3.2% in the past 14 days. ETH has declined from a high of trading above $1,900 to a trading price of $1,866, at the time of writing. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":514768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,8323,1946,78803,14896],"class_list":["post-545138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-eth","tag-ethereum","tag-ethusdt","tag-whale"],"acf":[],"yoast_head":"\nEthereum Wallet Dormant For 8 Years Awakens, Here Is Why It Moved $1.2 Million In ETH<\/title>\n<meta name=\"description\" content=\"Ethereum's ecosystem has continued to see fascinating developments in the past weeks. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"8-Year Dormant Ethereum Wallet Just Moved $1.2 Million In ETH, Here’s The Destination","url":"http:\/\/uniquehot.com\/news\/ethereum\/8-year-dormant-ethereum-wallet-just-moved-1-2-million-in-eth-heres-the-destination\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/8-year-dormant-ethereum-wallet-just-moved-1-2-million-in-eth-heres-the-destination\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?fit=750%2C536"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","eth","ethereum","ethusdt","whale"],"dateCreated":"2023-07-31T10:19:01Z","datePublished":"2023-07-31T10:19:01Z","dateModified":"2023-07-31T10:19:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"8-Year Dormant Ethereum Wallet Just Moved $1.2 Million In ETH, Here’s The Destination\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/8-year-dormant-ethereum-wallet-just-moved-1-2-million-in-eth-heres-the-destination\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/8-year-dormant-ethereum-wallet-just-moved-1-2-million-in-eth-heres-the-destination\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Ethereum.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Ethereum.jpg?fit=750%2C536\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"eth\",\"ethereum\",\"ethusdt\",\"whale\"],\"dateCreated\":\"2023-07-31T10:19:01Z\",\"datePublished\":\"2023-07-31T10:19:01Z\",\"dateModified\":\"2023-07-31T10:19:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?fit=750%2C536","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/545138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=545138"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/545138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/514768"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=545138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=545138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=545138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}