$4.42M in ETH Wakes Up After 8 Years for Ethereum ICO Participant
• An Ethereum wallet that participated in the platform’s initial coin offering (ICO) in 2016 has become active after seven years and seven months.
• The address transferred one ether (ETH), signaling a nearly 600,000% return on investment (ROI).
• Other dormant crypto wallets have recently become active, such as a Bitcoin(BTC) wallet that sent 2,071 BTC to a new address.
Ethereum Wallet Wakes After 8 Years
An Ethereum wallet that participated in the platform’s initial coin offering (ICO) in 2016 has become active after seven years and seven months. According to a tweet by on-chain analysis firm Lookonchain, the address transferred one ether (ETH) to a new address about 13 hours ago, marking its first transaction.
ROI of Nearly 600,000%
At the time of the ICO, the wallet received 2,365 ETH valued at around $733.51 due to the token sale price being $0.311. However, with ETH’s current market value of $4.36 million, this amounts to a nearly 600,000% return on investment (ROI).
Other Dormant Wallets Activating
The sudden activation of this Ethereum wallet follows other reports of dormant crypto addresses becoming active again. For example in December 2020 two Ethereum addresses previously inactive since October 2018 made significant transfers of 22,982 ETH for the first time. Also noteworthy is an older Bitcoin (BTC) wallet that sent 2,071 BTC to a new address; it had been inactive since 2013 when it initially received 6071 BTC worth $663 each at that time — thus totaling over $4 million in value today!
Growing Crypto Adoption
The fact that these previously dormant wallets are transferring funds indicates growing adoption and recognition of cryptocurrency as an asset class along with institutional investors entering into crypto markets which increases demand for digital currencies — driving up prices even further!
It is clear from these examples that cryptocurrency holders should not give up hope but keep track of their wallets for potential ROIs like this lucky Ethereum participant who reaped almost 600 000% ROI from their investment eight years ago!