Gate News message, April 29 — An Ethereum ICO participant has moved $23.1 million in ETH to a new wallet after remaining dormant for over 10 years. According to Etherscan data cited by multiple analysts, address 0xCD5…7a336 transferred approximately 10,000 ETH to a new address on Tuesday evening (April 28). The address had received the Ethereum on July 30, 2015, after participating in the ICO with an initial investment of $3,100, representing a 7,465-fold increase in value at current prices.
The reason for the transfer remains unclear, though such movements typically precede token sales. This activity aligns with a broader trend of Ethereum ICO early participants emerging from dormancy during the 2025 bull run, when ETH repeatedly set new all-time highs. Notably, another ICO whale transferred 150,000 ETH last September after a three-year dormancy period.
ETH is currently trading at $2,335, up 1.9% over the past 24 hours as of Wednesday 12:50 a.m. ET. The asset remains significantly below its all-time high of $4,946 recorded last year.
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