Ethereum ICO Whale Awakens After 10 Years With 787,000% Profit
An early Ethereum investor has resurfaced after a decade of inactivity, transferring 1 ETH and drawing significant market attention. This participant acquired 1,000 ETH at $0.31 each during Ethereum‘s 2014 initial coin offering (ICO), an investment now valued at approximately $2.44 million – representing a remarkable 787,000% return.
Market Impact of Dormant Whale Activity
Movements by long-inactive Ethereum whales often precede market shifts. This transaction follows another notable transfer where a different whale deposited $12 million worth of ETH to Kraken, one of the largest cryptocurrency exchanges.
- Ethereum launched in July 2015 following its successful ICO
- Co-founder Vitalik Buterin proposed the platform as a programmable blockchain alternative to Bitcoin
- Despite growth, ETH remains nearly 50% below its November 2021 all-time high
Competitive Landscape: Ethereum and Solana
Anthony Scaramucci, founder of SkyBridge Capital, recently suggested Solana could eventually surpass Ethereum in market capitalization. “While I remain optimistic about Ethereum’s future,” Scaramucci noted, “Solana‘s technical advantages merit serious consideration.”
