Ethereum ICO Participant Wakes Up With $4.42 Million In ETH After 8 Years

A wallet that participated in Ethereum’s initial coin offering (ICO) in 2016, which has been dormant ever since, finally woke up after seven years and seven months.

according to a cheep Per on-chain analytics firm Lookonchain, the address transferred one ether (ETH) to a new address about 13 hours ago, marking its first transaction. The crypto community speculates that it is a test transaction. However, the ICO wallet has not made any other transactions since then.

• At the time of the ICO, the wallet received 2,365 ETH, valued at around $733.51, as the token’s asking price was $0.311. However, the assets are worth approximately $4.36 million at the current market price of ETH, indicating an ROI of almost 600,000%.
• The ICO participant has joined the list of previously inactive addresses that suddenly came to life and started transferring their assets. In December, two Ethereum addresses that had been inactive since October 2018 made Significant transfers of 22,982 ETH for the first time.
• In addition to Ethereum, there have also been reports of dormant Bitcoin (BTC) addresses becoming active again.
• A striking example is a wallet that received 6071 BTC in 2013 and recently sent 2071 BTC to a new address. At the time of the initial transaction, the value of one BTC was $663 and the total value of the wallet was over $4 million.
• However, in April 2023, when it was reactivated, the value of the stash skyrocketed to $176 million and $60 million in assets were transferred.
• In March 2022, another Bitcoin address was activated for the first time in 11 years. The address held 489 BTC worth just $50 in 2010. By the activation date, the assets were worth more than $20 million.