Ethereum ICO Whale Stakes $646M After Three-Year Dormancy
An early Ethereum investor has returned to the network with one of the largest staking moves in recent memory.
On Thursday, 150,000 ETH—worth roughly $646 million—moved from three wallets linked to Ethereum’s 2014 ICO into a staking address. These wallets had been inactive since February 2022.
The investor originally acquired 1 million ETH for $310,000 during the ICO, effectively buying at $0.31 per token. Today, that position is valued at approximately $4.3 billion. Two wallets still hold 105,000 ETH, worth $451 million.
This move is part of a broader trend of dormant ICO whales resurfacing. While such transfers often signal long-held supply entering circulation, these funds were staked rather than sold, highlighting confidence in Ethereum’s proof-of-stake network.
Ethereum’s staking ecosystem has grown past 33 million ETH this year, driven by long-term holders and increasing network participation.
