A Long-Inactive Wallet from the Initial Coin Offering (ICO) of Ethereum in 2014 Has Recently Resumed Activity

As per the data from Lookonchain, the dormant wallet participant of Ethereum ($ETH) ICO of 2014 has transacted a single $ETH to some anonymous address

A long-inactive wallet from the initial coin offering (ICO) of Ethereum in 2014 has recently resumed activity.

As per the data from Lookonchain, a dormant wallet participant of Ethereum (ETH) ICO of 2014 has transacted a single ETH to some anonymous address following a 9.7-year dormancy. The on-chain analytics platform took to social media to share the details of this event.

An #Ethereum ICO participant woke up after 9.7 years of dormancy and transferred 1 $ETH out.He received 2,000 ETH (costing $620, now worth $3.7M) at #Ethereum Genesis. The ETH ICO price is ~$0.31.https://t.co/ZEMUy5vEXQ pic.twitter.com/0WU9J22oVv

— Lookonchain (@lookonchain) August 17, 2024

Wallet from Ethereum ICO of 2014 Transfers 1 ETH Following 9.7-Year Dormancy

The wallet, which was a participant of 2014’s Ethereum ICO, originally obtained 2,000 $ETH in the genesis phase. Recently, it has resumed its activity after staying dormant for up to 9.7 years by sending 1 $ETH to an anonymous address. At present, the 2,000 $ETH possessed by the wallet has a per-coin value of up to $1,850. The reactivation of such long-inactive wallets often triggers speculation among the community members.

Blockchain explorer platform Etherscan’s data confirms the transfer of exactly 1 $ETH from the aforementioned wallet to an anonymous address. Although the precise reason behind this transfer is still unclear, the development has paved the way for considerable speculation. Many deem this to be the onset of a liquidation plan that the wallet holder might be endeavoring to carry out. Others consider it just an initial measure to ensure the access to the wallet.

Dormant wallet reactivations often get substantial attention from the community and may highlight likely offloading. They also highlight a renewed interest in the crypto market sometimes. Nonetheless, a few wallet owners shift minor asset amounts to check access before performing bigger transfers. Keeping this in view, the Ethereum community members will be keenly watching for the next developments related to this resumed wallet activity.