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#EthereumFoundationUnstakes$48.9METH
Decade-Old Ethereum Whale Moves $22.88 Million in ETH to New Wallet
An Ethereum ICO participant
ETHUSD
with wallet address 0xCD59 has transferred all of their ETH assets to a new wallet after being inactive for 10.8 years.
On-chain analysts highlight that this wallet acquired 10,000 ETH during the Ethereum ICO at a price of $0.311 per token.
Decade-Old Ethereum Whale Becomes Active Again
At current ETH prices, the whale’s total holdings are worth $22.88 million. This marks a 7,381-fold profit from the initial funds of $3,100, according to Lookonchain.
While the purpose behind this transfer remains unclear and there is no confirmed evidence of a sale, similar movements have occurred before
Some early Ethereum ICO participants chose to sell part of their assets, while others decided to stake or simply transfer their assets without selling.
For example, last month, address 0xd64A sold 11,552 ETH worth $23.42 million at a price of $2,027 per token. That wallet initially bought 38,800 ETH for $12,000 during the ICO.
However, not all early holders decided to sell. In December 2025, an Ethereum ICO wallet that had been inactive, (0x2dCA), with 40,000 ETH, became active again after more than a decade, choosing to stake its assets rather than sell.
Similarly, in September 2025, an ICO whale holding 1 million ETH reappeared after 8 years. The whale transferred 150,000 ETH to a new wallet for staking.
Reactivating long-dormant wallets continues to attract market attention, but such movements do not lead to a single specific outcome. Since there is no confirmed sale, these transfers open up many different possibilities, reflecting the diverse strategies of early holders.