An early investor in Ethereum (ETH) has drawn attention to the market by reactivating a wallet that had been inactive for years. This investor, who participated in the initial coin offering (ICO) in 2015, moved a significant portion of their assets, untouched for nearly 10 years, to a new address. According to blockchain data, the wallet, known as “0xCD5…7a336,” transferred a total of 10,000 ETH to a different address on Tuesday evening. The current market value of this transfer is estimated at approximately $23 million. Considering that the wallet acquired these assets for only $3,100 during Ethereum's ICO, the investment has increased in value by over 7,400 times over time. The reactivation of such long-inactive wallets is generally interpreted as significant signals in the crypto market. The actions of early investors (whales), in particular, are closely monitored by market participants, as these types of transfers are often seen as preparation for a potential sell-off. However, there is currently no clear information about the exact purpose of this transaction.
On the other hand, this development coincides with the recent resurgence of similar movements. During the strong bull run in 2025, a significant portion of Ethereum ICO participants moved their assets after many years. In particular, the transfer of 150,000 ETH by another early investor last September caused a wide stir in the market. Such large-scale transfers generally have the potential to create short-term pressure on market liquidity and price dynamics.
What is the current state of Ethereum price?
The Ethereum price is following a relatively stable course in the shadow of these developments. According to current data, ETH is trading at around $2,335, with an increase of approximately 2% in the last 24 hours. However, this price remains well below the all-time high of $4,946 recorded last year. This indicates that a strong upward trend has not yet fully formed in the market.
Ongoing macroeconomic uncertainties and expectations regarding central bank monetary policies continue to be decisive factors for crypto assets. In particular, the Federal Reserve's (Fed) interest rate decisions and inflation data play a critical role in determining the direction of the broader crypto market, including Ethereum. Therefore, macroeconomic developments, as well as large investor movements, continue to influence pricing. As a result, this ICO wallet, which has become active after years, has attracted attention. Whether these assets will be transferred to exchanges in the coming days and whether a potential sell-off will occur will be closely watched by market participants.
