Dormant Ethereum ICO Address Transfers 0.1 ETH After 9 Years

Dormant Ethereum ICO Address Transfers 0.1 ETH After 9 Years

On-chain data provider Lookonchain tweeted via Twitter that “A specific Ethereum ICO participant address which has been dormant for 9 years just moved 0.1 ETH to a new address, which seems to be a transfer test.” It added that “The address received 500 ETH in an Ethereum ICO back in the day. It cost only $155 at that time, but it is worth around $1.25 million now.” The transfer of 0.1 ETH from the dormant address has sparked speculation that the holder may be testing the waters before moving the entire 500 ETH balance. The address in question was involved in an ICO in 2013, when Ethereum was still in its early stages. The holder may have forgotten about the investment or may have been waiting for the right time to sell. If the holder does decide to sell the entire 500 ETH balance, it would have a significant impact on the Ethereum market. The sale would likely put downward pressure on the price of ETH, as it would increase the supply of ETH on the market. However, it is also possible that the holder would sell the ETH gradually, which would minimize the impact on the market. Only time will tell what the holder of the dormant Ethereum ICO address decides to do. However, the transfer of 0.1 ETH is a sign that the holder is at least considering moving the entire balance.