Ethereum ICO holder moves 10,000 ETH after 11 years

On April 29, wallet 0xCD59 moved 10,000 ETH, roughly $22.88 million at current prices, from an address that had been inactive for about 10.8 years to a newly created wallet. The address participated in the 2015 Ethereum ICO when ether traded near $0.31, meaning the original $3,100 purchase is now worth about 7,381 times the investment.

Blockchain records show the sender tested the destination first, transferring 0.005 ETH and then 0.01 ETH before sending a single bulk transaction of 9,999.98 ETH. The receiving address had no prior transaction history, and none of the funds were routed to cryptocurrency exchanges after the transfer.

The movement was identified by on-chain observers tracking legacy ICO wallets. Similar reactivations have occurred in 2026, including one address that sent about 100.275 ETH after roughly 10.6 years of dormancy and a separate earlier transfer of 145,000 ETH valued at about $276 million. Earlier this month, another wallet repurchased 7,448 ETH ($17.5 million at $2,350 per ETH), three days after selling 10,829 ETH for about $24.9 million

The public ledger records the transfers and amounts but does not reveal the owner’s identity or intent. On-chain activity of this kind can represent internal custody transfers, upgrades to different storage methods, or preparations for sale; the transaction log alone does not indicate which action will follow.