Ethereum ICO whale stakes 150,000 ETH after 3-year silence
Three addresses from Ethereum's 2014 initial coin offering (ICO) transferred 150,000 ETH worth $646 million to a staking address on Thursday. The wallets had been inactive since February 2022.
On-chain data shows the transfers happened on Thursday from three separate ICO-era addresses. The combined 150,000 ETH went directly to an Ethereum staking address, meaning the funds will be used for network validation rather than sold on exchanges.
The wallets showed no outbound transactions since February 2022. Their last on-chain activity before Thursday was unrelated to ETH transfers. The owners did not reveal why they decided to stake the funds now.
Other early Ethereum holders have recently activated dormant wallets. In mid-August, one ICO participant sent $19 million in ETH to Kraken, then moved another 1,060 ETH days later. Another ICO address transferred 2,300 ETH to Kraken last month.
Ethereum's original ICO ran from July 22 to September 2, 2014. The fundraising event raised $18.3 million by selling over 60 million ETH at an average price of $0.31 per token. With ETH now trading near $4,300, original buyers have seen massive gains.
The staking choice suggests long-term confidence in Ethereum. Staked ETH cannot be quickly withdrawn and sold, indicating the holders plan to keep their position while earning staking rewards. The large amount also shows these early participants remain committed to the network they helped fund a decade ago.
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