In a surprising move, an Ethereum "whale" has come back to life after being dormant for over two years. The large investor, identified as an early participant in Ethereum's initial coin offering (ICO), staked 4,032 ETH, equivalent to approximately $7.4 million, according to data from Lookonchain.
This sizeable stake, made just hours ago, marks the whale's first activity in 2.4 years, stirring considerable excitement and speculation within the crypto community.
The whale, whose address was shared on Lookonchain's Twitter page, was a part of Ethereum's genesis – the network's inception phase when the Ethereum ICO took place.
During the ICO, this investor received a staggering 60,000 ETH. Ethereum's genesis event was a public crowdsale that occurred in July and August 2014, where investors purchased ETH in exchange for Bitcoin.
Yuri MolchanWhether this activity is indicative of a larger trend among Ethereum ICO participants, or an isolated event, only time will tell.
Tomiwabold Olajide
Yuri Molchan
Dan Burgin