Ethereum ICO Investor Moves $646M to Staking After Three Years
- 150,000 ETH, valued at approximately $646 million, was moved to a staking address from three wallets linked to Ethereum’s initial coin offering.
- The wallets had been inactive since February 2022 and originally received a total of 1 million ETH during the ICO for about $310,000.
- This investor’s current position is now worth nearly $4.3 billion, despite the recent transfer.
- Two remaining wallets still hold an additional 105,000 ETH, valued at around $451 million.
- Ethereum’s staking layer has exceeded 33 million ETH this year as older investors engage with the network’s proof-of-stake model.
The movement of these funds signals a potential re-entry of long-dormant supply into the market, with some traders viewing it as significant activity among early investors in Ethereum. This comes amid a trend of resurfacing ICO whales who are now participating in staking rather than selling their assets.
The recent deposit of $646 million into staking highlights renewed interest from early investors in Ethereum, reflecting a broader trend as the network matures and yields stabilize.(Source)
