UpdatesApr 25, 2023

The Ethereum address participating in the ICO became active after more than 7 years

Dormant ETH coins have been stirred after many years of inactivity.

The long-inactive Ethereum address, which took part in an ICO a few years ago, became active after almost 8 years. The person controlling this address has moved 1 ETH coin to a new crypto address. Some experts related to the cryptocurrency market speculate that it was a test transaction. As many as 2,365 ETH coins with a total value of approximately $4.42 million are assigned to the aforementioned wallet.

The Ethereum address has become active after almost 8 years of dormancy

Analysts of the digital currency sector noticed a transaction coming from an ETH wallet, to which more than 2.3 thousand ETH coins are assigned. The cryptocurrencies accumulated in it were “inactive for almost 8 years. Moreover, an interesting fact related to this case is that the mentioned crypto address participated in the ICO of the Ethereum project.

Over the years, the value of ETH has increased significantly, but the holder of a huge amount of units of this digital currency worth about $ 4.42 million at the current exchange rate has never sold these assets. At the moment, it is not known who the person who controls the mentioned ETH address is. It is not entirely clear why the owner of this address decided to use it now.

According to analysts related to the cryptocurrency market, the transfer of 1 ETH coin to a new cryptographic address could have been a test. So far, it is not known whether the owner of these ETH coins intends to transfer the remaining part of the accumulated Ethereum to another address, or whether the possibility of selling them is being considered.

The crypto address mentioned above received 2,365 ETH coins in the past in the early stages of the Ethereum project. At that time, the unit price of the second largest cryptocurrency was only about $0.31. The current market price at which ETH is traded is over $1.8 thousand per coin.

Ethereum recorded its ATH at the November 2021 stage. At that time, the price of the second largest cryptocurrency fluctuated around $ 4.8 thousand. Since then, the value of this popular project has fallen by nearly 62%. During the cryptocurrency winter of 2022, the price of ETH slid down to just $1,000. In January 2023, ETH could be purchased for only $1.1 thousand. Since then, there has been a visible jump in the value of this digital currency.

Although just a few days ago the ETH rate was stable above the $2,000 per coin line, later, along with Bitcoin (BTC), it began to record some drops. The Ethereum price correction from a 7-day perspective is currently over 10%.