-AD-
-AD-
HomeNewsEthereum Holder Awakens After 9 Years, Transfers Fortune to Kraken!

Ethereum Holder Awakens After 9 Years, Transfers Fortune to Kraken!

- Advertisement -
  • Initially acquiring 2,000 ETH for just $620, this early participant’s account reflects significant returns on the initial investment.
  • Ethereum’s ICO in 2014 raised $18 million, with the blockchain officially going live in July 2015, marking its inception.

An Ethereum (ETH) account, dormant for over nine years, recently activated to transfer 5 ETH, approximately $13,000, to the Kraken cryptocurrency exchange. This event marks a rare instance of movement from an early Ethereum initial coin offering (ICO) participant, who initially received 2,000 ETH for just $620. 

The Ethereum ICO, conducted from late July to early September 2014, raised $18 million and led to the blockchain going live in July 2015.

During the ICO, 80% of the issued tokens were allocated to early investors, while the remaining 20% were divided among early team members and the Ethereum Foundation.

A small group of only 100 accounts held 40% of all ICO-era Ether tokens, highlighting the concentrated initial distribution. Ethereum’s initial supply was capped at 72 million tokens, contrasting sharply with today’s circulating supply of 120.3 million tokens.

The Ethereum Foundation, which received the largest share of the pre-mined coins, continues to make news with its ETH transactions. Despite recent sales, these moves have not significantly impacted the price of Ethereum. This resilience illustrates the complex dynamics of cryptocurrency markets, where various factors influence prices beyond mere supply and demand.

This recent transfer is reminiscent of a similar event earlier this year when another ICO participant moved over $9 million worth of ETH to Kraken after years of inactivity. Such transfers are uncommon, underscoring the typical pattern of long-term holding by early cryptocurrency adopters.

Currently, ETH trades at $2,625 per unit, per ETHNews data. The second-largest cryptocurrency by market cap has seen a 1% decline in price recently, with a 4% drop over the past month. These fluctuations reflect the ongoing volatility in the crypto markets, influenced by broader economic factors, investor sentiment, and market liquidity.

Disclaimer: ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628
RELATED ARTICLES

LATEST ARTICLES