The $8,3 million coin transfer fee was only $1.27

​Ethereum ICO participant makes the first transaction in three years

23.02.2023 - 14:00

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2 min

What’s new? On February 23, the address of one of the Ethereum initial public offering (ICO) participants woke up after 3 years of inactivity and made a transaction of 5055 ETH (over $8,3 million). Blockchain analysts at Lookonchain reported this on Twitter, referring to the transaction.

What else is known? At the time of the Ethereum ICO, the participant received 10 095 ETH, at the time the price of one coin was about $0,31. On February 23, they made a transfer to the new address, paying only $1,27 as a fee. At the moment of writing this article the new address contained only 5055 ETH transferred. Prior to that, there were no internal or external transactions from that address.

As of 13:15 UTC, ETH is trading at $1660, having gained 1,15% in 24 hours and 4,94% in a week, according to Binance.

On February 3, an anonymous user made a transaction of 33,52 ETH ($55 408), paying 19,47 ETH ($32 180) in fees. In October 2022, an anonymous paid $157 000 in transfer fees on the Ethereum network. The fee for issuing the first NFT after the blockchain switched to PoS was 36 ETH (~$57 852 at the time of the transaction).

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