On December 27, a wallet that participated in Ethereum’s ICO made its first outgoing transaction in more than nine years, transferring 631.1 ETH (approximately $2.08 million at the time of writing) to Coinbase, as noted by Spot On Chain.

🎄 Late Christmas gift redemption? An #Ethereum ICO participant returned after 9.4 years of dormancy and deposited 631.1 $ETH ($2.14M) to #Coinbase in the past 10 hours as the market rebounded!

In July 2015, this participant received 1,940 $ETH (then worth only $601) at the… pic.twitter.com/9o1qjlInWV
— Spot On Chain (@spotonchain) December 27, 2024

In July 2015, this address received 1940 ETH, then valued at just $601.

According to Spot On Chain, the user still holds 1309 ETH worth approximately $4.3 million. The identity behind the wallet remains unknown.

Earlier, another Ethereum ICO participant “woke up” after eight years of inactivity, sending 0.01 ETH from an address that holds 200 ETH.

In March, a wallet dormant for nearly 12 years moved all 500 BTC it held, worth nearly $35 million. The user had acquired Bitcoin on July 14, 2012, at a price of $7.57.

In late July, another Ethereum ICO participant moved 2000 ETH for the first time in nine years, distributing them across two new wallets.