An early Ethereum investor has stirred fresh discussion across the crypto market after their decade-old ICO-era wallet abruptly became active. The wallet’s reappearance highlights the extraordinary returns from early blockchain adoption while also drawing attention to potential market implications tied to large historical holdings.
Dormant Ethereum ICO Wallet Suddenly Springs Back to Life
Blockchain tracker Lookonchain recently revealed a transaction from an ICO-era Ethereum wallet that has sprung to life after 10.6 years of inactivity. According to the on-chain sleuth, this wallet attempted to deposit 1 ETH into Gemini, but the transaction failed due to low gas fees.
Meanwhile, for context, Lookonchain highlighted that the wallet holder had purchased 1,430 ETH during the ICO, when Ethereum was barely worth $1, spending just $443. However, as of now, Ethereum is worth around $1,985, making the wallet holder’s total holdings amount to approximately $2.81 million.
This translates into a staggering 6,335x profit for the once-dormant wallet. The sudden activity has triggered speculation among traders and analysts. Historically, the reactivation of long-idle wallets has raised concerns about potential sell pressure. However, in some cases, such movements are tied to security upgrades, internal fund transfers, or portfolio restructuring rather than immediate liquidation.
Ethereum ICO-Era Wallet Transfers 2,000 ETH After More Than 10 Years of Inactivity
Early Ethereum Backers Showcase Historic Crypto Wealth Creation
This wallet reactivation after several years is also not a new phenomenon in the crypto market. Lookonchain reported in December 2025 that another ICO-era whale wallet had been reactivated after over 10 years of inactivity, generating an estimated 10,648x profit. Such cases continue to reinforce the narrative around long-term holding strategies within the digital asset sector.
Meanwhile, these massive returns underscore Ethereum’s transformation from a little-known crowdfunding project into a dominant force within the digital asset ecosystem. Early adopters who held through multiple market cycles, including severe bear markets, have witnessed wealth creation rarely seen in traditional financial markets.
Interestingly, Ethereum’s growth has been fueled by its expanding use cases. The network now serves as the backbone for decentralized finance, NFT ecosystems, tokenized real-world assets, and enterprise blockchain infrastructure.
ETH Price Action Remains in Focus Following Whale Activity
Ethereum has continued to suffer from the broader crypto market’s volatility, recently falling from a crucial support zone at $2,000. The drop below this psychological level has intensified bearish sentiment among short-term traders, leading to a cautious approach.
However, market expert Crypto Ceasar, in a recent X post, claimed that Ethereum is now extremely oversold and could soon see a bullish reversal. According to the analyst, historical technical patterns suggest that ETH often rebounds sharply after entering deeply oversold territory.
Despite concerns about whale-related selling, Ethereum continues to see strong long-term interest driven by institutional adoption, ecosystem expansion, and ongoing development. Traders are now closely monitoring whether buying pressure will return near current levels.
From $263 to $2.82M—Ethereum ICO Whale Reawakens with 10,684x Returns
Evans Kelvin
The CoinRemark Team
