Ethereum ICO participant transferred over 630 Ether for the first instance
Long-Dormant Ethereum ICO Participants Wake Up to Conduct Significant Transactions
After years of inactivity, Ethereum ICO participants have started to become active again, making significant transactions that have caught the attention of the crypto community.
In a notable example, an early Ethereum investor who acquired 20,000 ETH during the 2014 ICO has been gradually selling portions of their large holdings in multiple transactions over the years.
This participant, who has been holding onto their tokens for over a decade, made their first outgoing transaction in nine years in late July 2021, moving 2,000 ETH. The transaction, worth approximately $2.08 million at the time, was distributed across two new addresses.
The participant's original investment was made in July 2015, when they received 1,940 ETH, which at the time was only worth $601. However, the current value of the ETH held by the participant is around $4.3 million.
This behavior indicates a pattern of strategic, gradual liquidation rather than a sudden full exit, reflecting patience and long-term value realization by early Ethereum adopters. The participant has made several other sales, including 3,000 ETH in November 2023, 1,000 ETH in February 2024, and 250 ETH in December 2024.
The most recent sale occurred on August 11, 2025, when the participant sold 2,300 ETH worth approximately $9.9 million by transferring to the Kraken exchange. After these sales, the address still holds about 1,623 ETH, valued around $7 million at current prices (ETH trading above $4,300).
This is not an isolated incident. Another Ethereum ICO participant became active after eight years, sending 0.01 ETH from an address holding 200 ETH in an unknown transaction.
Such transactions show early ICO participants' continued influence in the Ethereum ecosystem and their ongoing decisions to unlock part of their historic holdings. These large "whale" transactions are significant enough to generate market attention, but in this case, market liquidity at high ETH price levels has absorbed the sales without notable volatility.
In summary, long-dormant Ethereum ICO participants awaken infrequently but in notable bursts, often spreading out large sales over extended periods. On-chain data reveals periodic significant ETH transfers by original ICO whales in recent years, culminating in large multi-million dollar sell-offs that still leave them holding substantial ETH bundles.
[1] Source for the current value of ETH: [Current ETH Price] [2] Source for the number of ETH held by the participant: [Source for ETH balance] [3] Source for the market absorption of the sales: [Source for market absorption] [4] Source for the pattern of strategic, gradual liquidation: [Source for liquidation pattern] [5] Source for the continued influence of early ICO participants: [Source for influence of early ICO participants]
What could be the reason for these long-dormant Ethereum ICO participants to suddenly start utilizing technology for conducting significant transactions? Could it be a sign of changing strategies or growing confidence in the technology and its potential?
