An Ethereum ICO participant, inactive for nearly a decade, has made a notable return amidst a market rebound.
Over the past 10 hours, this long-dormant wallet deposited 631.1 $ETH—worth approximately $2.14 million—to Coinbase.
This participant initially received 1,940 $ETH during Ethereum’s Genesis block in July 2015, an allocation then valued at just $601. Fast forward 9.4 years, and the remaining 1,309 $ETH in the wallet now carries an impressive value of $4.4 million. With such significant holdings still untouched, further sell-offs may be on the horizon.
Late Christmas gift redemption? An #Ethereum ICO participant returned after 9.4 years of dormancy and deposited 631.1 $ETH ($2.14M) to #Coinbase in the past 10 hours as the market rebounded!
In July 2015, this participant received 1,940 $ETH (then worth only $601) at the… pic.twitter.com/9o1qjlInWV
— Spot On Chain (@spotonchain) December 27, 2024
In parallel, Ethereum’s spot ETF activity also showcased bullish sentiment. On December 26, Ethereum spot ETFs recorded a total net inflow of $117 million. Leading the charge was Fidelity’s ETF (FETH), which attracted $82.962 million, followed by BlackRock’s ETF (ETHA) with a net inflow of $28.175 million.
Ethereum spot ETFs had a total net inflow of $117 million on December 26, with Fidelity ETF FETH having a net inflow of $82.962 million and BlackRock ETF ETHA having a net inflow of $28.1754 million. https://t.co/Tvs2oCSxTg pic.twitter.com/VW1OYhRSmt
— Wu Blockchain (@WuBlockchain) December 27, 2024
The resurgence of dormant wallets during periods of market recovery often sparks interest in the broader cryptocurrency community. It signifies not just potential sell pressure but also the maturation of early investments made in the ecosystem.
As Ethereum spot ETFs gain traction and dormant funds reenter circulation, the network continues to demonstrate its resilience and enduring appeal. With market dynamics shifting and institutional interest growing, Ethereum remains a focal point for both retail and institutional investors. Whether this recent activity will lead to increased volatility or sustained growth remains a key question for the market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: stevanovicigor/123RF // Image Effects by Colorcinch