Their initial $310 investment, buying ETH around $0.31, is now worth $2.44 million — a profit gain of 787,000%.
A participant from Ethereum’s earliest days has resurfaced. Blockchain data from Lookonchain confirms activity from a crypto address untouched for ten years. This “whale,” holding a large amount of Ethereum (ETH), initiated a transaction this past Sunday, moving a single ETH.
The importance lies in the address’s origin. It acquired its Ethereum holdings during the project’s initial coin offering (ICO) phase roughly a decade ago. At that time, ETH tokens sold for between $0.30 and $0.40. Records show early backers received substantial amounts, like 2,000 ETH for each Bitcoin contributed. This specific address obtained ETH at approximately $0.31 per token.
The math is clear. An initial investment around $310, purchasing roughly 1,000 ETH at the ICO price, has grown substantially. With Ethereum currently trading near $3,490 (correcting the figure provided; ETH is not at $107,490), that holding is now worth about $2.44 million. This represents an increase of 787,000% from the original cost.
Another long-dormant address from the same ICO period moved $12 million worth of ETH to the Kraken exchange. While overall Ethereum holdings by large investors recently hit a current cycle peak, the reactivation of these early, untouched addresses draws attention.
The current market context adds weight. Ethereum’s price remains almost 50% below its highest point recorded in November 2021. Its performance relative to Bitcoin has also been weaker for much of this year. Major banks like Standard Chartered have revised their future price expectations downward. The bank now sets a 2025 target of $4,000 per ETH, a forecast some observers now consider challenging to meet soon.
The reappearance of these early, profitable holders raises questions. ETHNews note that such moves, especially transfers to exchanges, often precede selling activity. Whether this signals a broader trend among other dormant ICO participants remains unknown. The single ETH transfer serves as a signal that at least one major, early holder is active again after a decade of silence.
Ethereum (ETH) is trading at $2,511.47 USDT, reflecting a modest +0.65% gain over the last 24 hours. Over the past 7 days, ETH has gained +4.17%, though it remains in a -3.20% decline for the month. On the yearly frame, ETH is down -15.77%, highlighting ongoing macro weakness despite a recent short-term rebound from the $2,100-$2,200 support zone.
Technically, Ethereum is showing a neutral to slightly bullish bias, with daily and weekly indicators both signaling “Buy”, while the 1-month trend remains neutral. Price is currently consolidating above the $2,480-$2,500 support band, and traders are watching the $2,600-$2,650 zone for a breakout.
A move above this resistance could open the door for a rally toward $2,800-$3,000, while failure to hold above $2,470 may send ETH back toward the lower range around $2,300-$2,200. Volatility is low at 0.45%, indicating a potential squeeze setup if volume returns.
