Ethereum ICO participant makes the first transaction in three years

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

23.02.2023 - 14:00

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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.

An #Ethereum ICO participant who has been dormant for 3 years transferred 5,055 $ETH($8.3M) to a new address 2 hours ago.He/she received 10,100 $ETH at Ethereum Genesis, the ETH ICO price is ~$0.31.https://t.co/Vzr0srcLeH pic.twitter.com/UATXBkXOeU — Lookonchain (@lookonchain) February 23, 2023

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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