U.Today - A previously inactive Ethereum ICO participant 32.1 ETH to Coinbase (NASDAQ:COIN), after remaining dormant for eight years. This particular Ethereum address, which appears to be linked to shemnon.eth (@shemnon), was part of the Ethereum Genesis and had initially received 200 ETH.
The sudden activity has piqued interest and speculation within the cryptocurrency community, particularly given the significant value appreciation of Ethereum since its inception.
Recent stirrings of early ETH whales
Over the past few months, several Ethereum addresses associated with the platform's initial coin offering (ICO) have shown activity after years of inaction. For instance, in July, an Ethereum ICO participant , depositing an enormous 61,216 ETH, valued at roughly $116 million, into the cryptocurrency exchange, Kraken.Furthermore, in a separate incident aligning with Ethereum's eighth anniversary, another long-inactive wallet 641 ETH and began staking, equating to a value of approximately $1.19 million.
Such transactions draw attention not just because of their substantial size, but due to the significant gains these early Ethereum supporters have seen.
With Ethereum's price being a mere $0.31 per ETH and its current market price hovering around $1,623, early adopters have witnessed exponential growth in their investments.