Ethereum ICO Wallet- 10-Year-Old Ethereum Wallet Sends ETH to Binance

Ethereum ICO Wallet– This week, the on-chain analytics account Lookonchain reported unusual activity from two Ethereum whales that had remained inactive for several years. These wallets, previously in “hibernation,” suddenly reactivated and started offloading large amounts of ETH to centralized exchanges.

ETH ICO Whale Sells 2,000 ETH After 10 Years

According to a tweet from Lookonchain, one of the wallets belonged to a participant in Ethereum’s 2014 Initial Coin Offering (ICO). After nearly a decade of dormancy, the whale moved their entire stash of 2,000 ETH to Binance, where it was sold for approximately $5.13 million. This massive transfer has caught the attention of the crypto community due to the long inactivity period.

An ETH ICO participant woke up after 10 years and transferred 2,000 ETH to Binance.

Ethereum OG Sells More ETH After 2-Year Hiatus

Another wallet, referred to as an Ethereum OG, resumed activity after being dormant for two years. Lookonchain noted that the whale initially made a small test transaction of 1 ETH, then quickly followed up by sending 500 ETH — worth roughly $1.29 million — for sale. Previously, this same address sold 2,286 ETH and 1,500 ETH in 2023, netting over $7 million.

Ethereum ETFs Record $10 Million in Outflows

Meanwhile, Ethereum-based spot ETFs saw notable outflows on June 16, totaling nearly $10 million. The largest withdrawal came from the Fidelity Ethereum Fund, which lost 3,496 ETH (around $9 million). Invesco Galaxy also faced a smaller outflow of 172 ETH, valued at over $440,000.

At the time of writing, Ethereum (ETH) is trading around $2,580, following a recent dip of more than 5%.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.