A cryptocurrency wallet inactive since Ethereum’s 2015 initial coin offering (ICO) has been reactivated after nearly a decade, revealing a staggering return on investment. The wallet moved 1 Ether (ETH), showcasing a gain of approximately 787,000% on its original $310 investment, now valued at roughly $2.44 million based on current Ethereum prices.
This reactivation coincides with Ethereum trading around $107,490, a level still approximately 49% below its all-time high reached in late 2021. The event highlights the immense long-term gains potential for early participants in the cryptocurrency market.
Increased activity from early Ethereum holders, often referred to as ‘whales’, has been noted recently. This includes a separate significant transfer of $12 million worth of ETH to the Kraken exchange, potentially signaling intentions to sell and impacting market sentiment.
Market forecasts for Ethereum remain divergent. Financial institution Standard Chartered has revised its 2025 price target downward to $8,000, reflecting ongoing uncertainty. Despite Ethereum underperforming relative to Bitcoin during 2024, the reactivation of long-dormant wallets like this one suggests renewed interest or action among the project’s earliest investors.