An Ethereum ICO participant, who had been dormant for over eight years, recently transferred their pre-mined stash of Ether tokens to different addresses. The address received 2,000 ETH during the ICO in 2014, and the tokens were purchased for $620 at a price of $0.31 per token. The value of these tokens has now grown to nearly $3.2 million. The participant transferred the tokens to four different addresses, with approximately 500 ETH sent to each address. It is unclear whether the tokens will be sold, staked on the network, or used for other transactions. Similar large transfers from early ICO participants have occurred in the past, with one participant moving $116 million worth of pre-mined ETH to a Kraken exchange address in July. The price of ETH may experience temporary downward pressure if the tokens are sold. Currently, Ethereum’s price stands at $1,605, reflecting a slight decline of 0.7% in the past day. The past week has seen a 3.8% increase in the value of ETH, influenced by the positive performance of Bitcoin and false news of a spot ETF approval.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	Kraken exchange, Lookonchain
Currencies	Ethereum
Securities	None