A whale address that participated in the 2015 Ethereum ICO has moved 48,500 ETH to the OKX exchange after nearly a decade of dormancy.
At current market rates, this Ethereum transfer is valued at approximately $154 million. The whale address originally acquired 1 million ETH during the 2015 ICO at a price of $0.311 per ETH.
As of today, Ethereum’s live price is $2,541. Its market cap is $306.29 billion, and its 24-hour trading volume is $14.86 billion. Ethereum has decreased by 3.94% in the last 24 hours, and its circulating supply is 120.27 million.
Considering that 48,500 ETH were bought for $15,083 during the ICO, the dormant address has awakened to an astonishing profit of over $153 million, which is a return of over 1,020,917%.
Following this recent transfer, the address now holds 15,600 ETH. According to cluster analysis, this whale’s total holdings may amount to a staggering 682,000 ETH, equivalent to approximately $1.756 billion.
Prominent Chinese reporter Colin Wu called attention to the latest activities of this early Ethereum adopter in a recent post on X.
Other Ethereum Entities Moving ETH After Years of Dormancy
The transfer of $154 million worth of ETH is one of the largest seen in recent months, and the movement of such a large amount of ETH has led to market speculation about potential implications.
Last month, a wallet suspected of being connected to the Ethereum Foundation moved 92,500 ETH, worth approximately $300 million, after being dormant for over six years.
Interestingly, the transaction was closely followed by another from an anonymous entity on July 30. This time, the Ethereum whale moved 1,111 ETH worth approximately $3.7 million to a new wallet after nine years of dormancy.
These recent activities by large investors could signal that they are gearing up to take advantage of Ethereum’s potential rise.
Notably, the recently observed 48,500 ETH to OKX exchange coincided with Ethereum’s recent volatile price activity, particularly following the market-wide collapse on August 5. The value of ETH had crashed to $2,100 but has since recovered, reaching $2,700 before retracing slightly. Essentially, this shift might suggest a stabilization in the crypto market after the August 5 crash.
