ICO Era Awakens: Ether Wallet Secures 2,365 ETH for the Long Haul

The owner of a dormant Ethereum wallet that received 2,365 ETH during an Initial Coin Offering (ICO) has moved 1 ETH to a new address, the data appears on-chain.

According to on-chain data released by the blockchain analytics platform, Lookonchain, an Ethereum wallet that has been dormant since the world’s largest smart contract network’s initial coin offering (ICO) event more than seven years ago, has come back to life again.

Per a Lookonchain tweet, the wallet owner, who received 2,365 ETH during the ICO, sent 1 ETH to a new wallet address.

The tokens were valued at around $0.31 each when the wallet owner participated in the ICO. However, the price of ether has skyrocketed since then, giving the 2,365 ETH a value of more than $4 million at current prices.

Ethereum finally moved to a proof-of-stake (PoS) consensus mechanism via the long-awaited Shanghai hard fork on April 12, which led to renewed investor confidence and bullish momentum.

The price of ether (ETH) is up by a decent 5.7% in the 30-day timeframe. ETH price reached a high of $2,126 on April 17th. However, the asset has fallen slightly since that time, exchanging hands for $1,847 at the time of writing.

Despite the recent gains, ETH is still down more than 61% since hitting an all-time high of $4,878.26 in November 2021, according to CoinGecko.