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A massive Ethereum transfer has taken place, as a known early investor has sent 2,300 ETH worth approximately $9.9 million to the popular cryptocurrency exchange platform, Kraken.
According to blockchain data, the transaction was executed during Asia morning hours and has sparked renewed interest in long-dormant ICO-era wallets and their potential impact on market conditions.
The wallet in question is a well-known participant from Ethereum’s initial coin offering (ICO) back in 2014. Initially receiving 20,000 ETH for roughly $6,200, the value of this allocation now stands at an astonishing $86 million, highlighting the remarkable returns enjoyed by these early investors who have held through various cycles and protocol milestones.
Historically, this wallet has been involved in several transactions, including a significant 3,000 ETH transfer in November 2023, as well as smaller allocations to Kraken in February 2024 and December 2024.
Source: crypto-economy.com
