After Three Years of Silence, Ethereum ICO Whale Stakes $646M

Ethereum ICO Whale Reactivates, Stakes $646M After Three Years Dormant

An early Ethereum investor has reentered the market with one of the largest staking moves in recent years.

On Thursday, 150,000 ETH—valued at approximately $646 million—was transferred from three wallets associated with Ethereum’s 2014 ICO into a staking address. These wallets had remained inactive since February 2022.

The investor initially acquired 1 million ETH during the ICO for just $310,000, giving them an average purchase price of $0.31 per token. Today, that holding is worth around $4.3 billion. Two of the wallets still retain 105,000 ETH, currently valued at $451 million.

This activity reflects a broader trend of long-dormant ICO whales resurfacing. While such transfers often suggest potential market supply entering circulation, in this case, the ETH was staked rather than sold, signaling confidence in Ethereum’s proof-of-stake network.

Ethereum’s staking ecosystem has now surpassed 33 million ETH in total, with growing participation from legacy holders as network yields stabilize and the PoS model matures.