According to blockchain analytics platform Lookonchain, an Ethereum (ETH) address recently emerged from more than nine years of dormancy to deposit 5 ETH (roughly $13,000 at current prices) to the Kraken cryptocurrency exchange.
This specific participant in the initial coin offering (ICO) received a total of 2,000 ETH for $620.
The Ethereum ICO, which took place between late July and early September 2014, secured a total of $18 million worth of funding. The Ethereum blockchain ended up going live in July 2015.
At genesis, those who invested in the project at an early stage received 80% of the issued tokens. The rest of the tokens were distributed between early team members and the Ethereum Foundation. Notably, only 100 participating accounts accounted for 40% of all of the ICO-era Ether tokens. Ethereum's initial supply was just 72 million tokens. Its current circulating supply stands at 120.3 million tokes.
The Ethereum Foundation, which received the biggest number of coins from the Ethereum pre-mine, recently made headlines with another ETH sale. However, its ETH sales failed to push the price of the leading altcoin lower.
Gamza KhanzadaevEarlier this year, another ICO participant deposited more than $9 million worth of ETH into Kraken after several years of dormancy. However, it is worth noting that such transfers tend to be rather rare.
Ether is currently trading at $2,625, according to data provided by CoinGecko. The price of the second-largest cryptocurrency has slipped by 1%. The leading altcoin is down roughly 4% over the past month.
Godfrey Benjamin
Tomiwabold Olajide
Dan Burgin
Vladislav Sopov