Ethereum

April

An Ethereum address that had been dormant for over 7 years has suddenly come to life. The address participated in the blockchain&#8217;s initial coin offering (ICO) and transferred one ether to a new address, which some speculate may have been a test transaction. This was the first transaction ever sent from the wallet.



The wallet in question received 2,365 ether, worth approximately $4.42 million today, during Ethereum&#8217;s genesis, according to on-chain analysis account <a href="https://twitter.com/lookonchain/status/1650336537496920064?s=46&amp;t=yoL7WJcO9vZ3TjSE2j6FRQ" rel="nofollow noopener" target="_blank">Lookonchain</a>. At the time of Ethereum&#8217;s ICO, one ether was valued at around $0.31. Today, the price of ether stands at $1,860.



<figure class="wp-block-image size-large"><img width="1200" height="164" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-1200x164.png" alt="image 514" class="wp-image-294323" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-1200x164.png 1200w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-300x41.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-768x105.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-1536x210.png 1536w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-2048x280.png 2048w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-24x3.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-36x5.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-48x7.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-514-150x21.png 150w" sizes="(max-width: 1200px) 100vw, 1200px" /><figcaption>The Ethereum ICO participant was inactive for more than 7.7 years. Source: Etherscan</figcaption></figure>



<h2 id="bitcoin-whale-addresses-display-similar-activity-after-long-periods-of-inactivity">Bitcoin whale addresses display similar activity after long periods of inactivity</h2>



The wallet&#8217;s activity follows two similar transactions from old Bitcoin whale addresses. On April 21, a bitcoin whale that had been inactive for a decade transferred 279 bitcoins worth $7.8 million to three new addresses. That transaction came a day after another long-dormant Bitcoin whale transferred 2,071.5 BTC worth $60.7 million after nine years of inactivity.



It is unclear why the wallet suddenly became active, but some have speculated that long-time crypto users may be moving old funds to new wallets amid an alleged wallet-draining operation <a href="https://twitter.com/tayvano_/status/1648187031468781568" rel="nofollow noopener" target="_blank">targeting</a> old wallets. However, concrete details on this theory remain scarce.

Ethereum ICO participant’s address springs to life; transfers one Ether after more than 7.7 years

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