An 8-year dormant Ethereum ICO wallet has suddenly been revived, transferring 150,000 ETH, worth approximately $659 million, to a new wallet.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
Activity has been spotted from an Ethereum ETH $4 298 24h volatility: 0.6% Market cap: $518.69 B Vol. 24h: $39.42 B ICO whale wallet that had lain dormant for almost a decade. Blockchain analytics platform Lookonchain reported that the whale transferred 150,000 ETH, worth approximately $659 million, to a new wallet for staking. The sudden activity has gotten many crypto enthusiasts wondering.
According to Lookonchain on X, the wallet in question received 1,000,000 ETH during the ICO of the second-largest cryptocurrency by market cap. He secured this massive Ethereum stash by investing $310,000 during the ICO through three wallets. Thereafter, it went dormant, showing no activity whatsoever.
Eight years later, the whale wallet suddenly wakes up and is shifting its holdings in a rather unexpected move. The first transfer of 150,000 ETH went to a new wallet where it is to be staked. At this point, the 1,000,000 ETH holding of the whale is worth roughly $4.4 billion, while the coins for staking are valued at $659 million.
An #Ethereum ICO participant who received 1,000,000 $ETH just woke up after 8 years of dormancy.
He moved 150,000 $ETH($645M) to a new wallet for staking.
He invested $310K in the ICO via 3 wallets and received 1,000,000 $ETH — now worth $4.3B.
After staking 150,000 $ETH, he… pic.twitter.com/B5CBTBJ2O5
— Lookonchain (@lookonchain) September 5, 2025
Noteworthy, 1 unit of Ethereum currently has a market value of $4,393.64, according to CoinMarketCap data.
Lookonchain noted that the whale is still left with 105,000 ETH, which he holds across two wallets. The crypto market considers this staking move as a bullish bet from the whale, one that may reduce selling pressure on ETH.
In August, the broader crypto market saw Bitcoin BTC $110 571 24h volatility: 0.0% Market cap: $2.20 T Vol. 24h: $58.53 B whales exit their position to make sizeable investments in ETH. A seven-year-old Bitcoin wallet worth $1.69 billion was liquidated to fund massive Ethereum long positions that summed up to $334 million. Apparently, the “Bitcoin OG” went from longing Ethereum on Hyperliquid’s perpetual market to closing some of these risky positions.
The whale ended up spot buying and holding 19,794 ETH, worth $85 million at the time. A few days later, another old Bitcoin wallet that accumulated 100,784 BTC for $642 million over the past seven years was spotted aiming for Ethereum. It dumped 22,769 BTC, worth $2.59 billion, and received 472,920 ETH in return.
There should be no case of dormancy with projects like SUBBD. Its public sale is already ranked one of the best crypto presales of 2025.
SUBBD has attracted a fanbase of 250 million, actively showcasing its prospect for massive growth. Every user is entitled to tools, rewards, and decision-making power. Its multiple use cases include the exclusive content and proprietary AI features. It offers users staking rewards of up to 20% to early backers.
Current Presale Stats:
Current Price: $0.05635
Amount Raised So Far: $1.101 million
Ticker: SUBBD
To participate in the presale, interested entities can either complete a purchase using their credit or debit cards or via cryptocurrency assets. Read how to buy SUBBD in our guide.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
