Ethereum Investor Transfers More Than 630 Ether for Initial Coin Offering First Time
In a notable trend observed in 2024–2025, dormant cryptocurrency wallets, including those from ICOs, have been becoming active again. This reactivation involves large holders redistributing or reallocating substantial amounts of crypto assets, signaling shifts in market dynamics.
Key patterns include:
- Bitcoin Dormant Wallets Reactivating: Over 255,000 Bitcoin inactive for more than seven years were reactivated in 2024, with over 215,000 BTC moving in just the first months of 2025. The average monthly movement of these long-dormant coins surged from 4,900 BTC in 2023 to over 30,000 BTC in 2025. Transaction sizes have also increased, suggesting that large holders (whales) are reallocating capital on an unprecedented scale[1].
- Ethereum ICO Wallets Becoming Active: Ethereum, launched in 2015, has seen early investors from its ICO period reactivate wallets dormant for about 10 years. A notable case on August 16, 2025, involved an early Ethereum investor moving 334.7 ETH (worth about $1.48 million) from a decade-old wallet to a new one. This follows a broader trend of historically dormant wallets resuming activity and potentially realizing significant gains[2][4][5].
- Whale Activity and Asset Rotation: Some Bitcoin whales are not only reactivating their Bitcoin holdings after years but also rotating assets into Ethereum. For example, a Bitcoin whale holding over 100,000 BTC after seven years dormant sold a large portion of BTC to acquire approximately 62,914 ETH (worth $270 million). This move included large derivatives positions betting on Ethereum’s price, suggesting strategic portfolio reallocations rather than simple liquidations[3].
The reactivation of these wallets may impact market liquidity, ownership distribution, and investor sentiment in both Bitcoin and Ethereum ecosystems[1][2][3][4][5].
Recent activity includes:
- Ethereum ICO Participant: In late July, an Ethereum ICO participant moved 2000 ETH for the first time in 9 years, distributing them across two new wallets. The initial investment in July 2015 was 1940 ETH. As of a transaction on December 27, 2024, approximately $2.08 million was transferred to Coinbase, with 1309 ETH still remaining in the wallet, valued at around $4.3 million[6].
- Another Ethereum ICO Participant: Another Ethereum ICO participant became active after 8 years of dormancy, transferring 0.01 ETH from a wallet containing 200 ETH. The transaction took place in the past 10 hours[7].
- Bitcoin Wallet: In March, a Bitcoin wallet that had been dormant for nearly 12 years moved all 500 BTC it held, worth nearly $35 million[8].
The identity of the wallet owners remains unknown in all cases. The transactions occurred as the cryptocurrency market rebounded[9].
[1] Bitcoin Magazine [2] Cointelegraph [3] Decrypt [4] The Block [5] CoinDesk [6] Spot On Chain [7] Spot On Chain [8] Cointelegraph [9] CoinDesk
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