Ethereum ICO Whale Stakes $646M After Three Years of Dormancy
An early Ethereum investor has made a major reentry into the staking market, moving 150,000 ETH—worth around $646 million—into a staking address on Thursday. The funds originated from three wallets linked to Ethereum’s 2014 initial coin offering, which had remained inactive since February 2022.
The investor initially acquired 1 million ETH during the ICO for just $310,000, giving them an average cost of $0.31 per token. That original position now holds a market value of roughly $4.3 billion. Two of the wallets still retain 105,000 ETH, currently worth $451 million.
This transfer highlights a recurring trend of ICO-era whales reactivating their holdings. While such movements can sometimes signal potential selling pressure, in this case, the ETH was staked rather than liquidated, demonstrating continued confidence in Ethereum’s proof-of-stake network.
Ethereum’s staking ecosystem has surpassed 33 million ETH this year, with long-term holders increasingly participating as yields stabilize and the network matures.
