Ethereum ICO Wallet Wakes After 10 Years, 6,335x Return

An early Ethereum investor has returned to the spotlight after more than a decade of silence. According to on-chain tracker Lookonchain, a wallet funded during the 2014 Ethereum ICO. It has recently attempted its first transaction in 10.6 years. The wallet originally invested just $443 and received 1,430 ETH at the time. Today, that same amount is worth about $2.8 million. It represents a staggering 6,335x return. The Ethereum ICO wallet, identified as 0xcBfa…0317. It is tried to send 1 ETH to the Gemini exchange. But the transfer failed because the gas fee was set too low.

From ICO Bet to Million-Dollar Stack

Ethereum initial coin offering took place between July and August 2014. Back then ETH sold for roughly $0.30 per coin. Early believers took big risks as the network had not even launched yet. This particular wallet sent $443 and received exactly 1,430 ETH.

For years, the Ethereum ICO wallet showed no activity. It stayed untouched through the 2017 bull run. Additionally, the 2018 crash, the DeFi boom and the long 2022 bear market. Many investors would have sold during those cycles. But this holder simply did nothing. That decision turned a small bet into a multi-million-dollar position. Such untouched ICO wallets are rare. Many early participants lost keys, sold early or moved funds long ago. So, when one suddenly becomes active, it often catches the market’s attention.

The Awakening and a Classic Gas Fee Issue

After more than a decade of inactivity, the Ethereum ICO wallet finally moved. It attempted to send just 1 ETH to the Gemini exchange. The move looked like a test transaction. Which is common when old wallets come back online. However, the transfer failed. The reason was simple. The gas fee was too low for the network conditions at the time. Despite holding millions of dollars in ETH, the Ethereum ICO wallet couldn’t complete the transaction.

The situation sparked amusement across crypto circles. After waiting more than ten years, the first move still ran into the same everyday Ethereum issue. It was a reminder that even early whales must deal with gas settings and transaction fees.

A Textbook Case of Extreme Long Term Holding

The numbers behind this wallet are striking. A $443 investment turned into roughly $2.8 million. That equals a return of about 6,335 times the original amount. This case shows the power of long term conviction. The holder survived multiple crashes and hype cycles without selling. In crypto terms, it is a pure example of “diamond hands.”

At the same time, such awakenings often raise questions. Traders now wonder if more ETH will move from the wallet. Large transfers from early investors sometimes create market pressure. For now the Ethereum ICO wallet remains mostly untouched. On-chain watchers will likely keep a close eye on its next move. After ten years of silence, even a small transaction can turn into a major crypto moment.

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