Yeliz Akmaca 
On-chain data shows that an early Ethereum investor who participated in the 2014 ICO moved 1,500 ETH to the Kraken exchange after nearly eight years of inactivity. This transaction marks the first exit since January 2018.
According to Lookonchain and Onchain Lens, the address “0x60D…E932” transferred a total of 1,500 ETH to Kraken in two separate transactions early Wednesday morning. At today’s prices, the transferred ETH is worth roughly $6 million, ending the wallet’s long dormancy.
Participation in the Ethereum ICO and Early Purchase
The investor initially acquired 20,000 ETH for $6,200 during the 2014 Ethereum ICO, paying an average price of $0.31 per ETH. The ICO sold over 60 million ETH, raising approximately $18.3 million in total.
Early investor movements in the crypto space attract significant attention. Wallets that remain inactive for years and then make transactions provide key insights into investor psychology and market trends, particularly for major projects like Ethereum.
ICO Whales Reemerge in the Market
As Ethereum approaches new yearly highs, ICO participants are becoming active again. In August, another Ethereum ICO investor moved roughly $19 million in ETH to Kraken, later selling an additional 1,060 ETH. During the same period, a different ICO address transferred 2,300 ETH to Kraken.
Last month, a single ICO participant moved a total of 150,000 ETH to a staking address across three wallets. Such movements impact Ethereum market liquidity and demand, providing crucial indicators for price forecasts and investor behavior.
Key Highlights
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Early Ethereum investor acts after 8 years of inactivity.
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1,500 ETH moved to Kraken, worth approximately $6 million.
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Originally bought 20,000 ETH during 2014 ICO; investment grew significantly.
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Other ICO whales also executed ETH transfers in August and September.
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