TLDR
- Ethereum ICO wallet 0xCD59 moved 10,000 ETH after 10.8 years.
- The ETH was worth about $22.88 million at the time of transfer.
- The wallet reportedly received 10,000 ETH for about $3,100.
- The funds moved from 0xCD59 to a new Ethereum address.
- Analysts have not confirmed whether the transfer signals a sale.
An Ethereum ICO whale has moved 10,000 ETH to a new wallet after more than 10 years of dormancy. The transfer has drawn market attention because the wallet dates back to Ethereum’s early sale period.
The old address, 0xCD59f3DDE77E09940BEfB6Ee58031965CaE7a336, sent all holdings to a new wallet. The receiving address is 0x5C96F826282324EA267Cf8933bb1a29E59234Eee.
Ethereum ICO wallet wakes after 10 years
Blockchain tracker Lookonchain said the wallet had stayed inactive for about 10.8 years. It then transferred 10,000 ETH, worth about $22.88 million.
The wallet reportedly received the ETH during Ethereum’s ICO period. The holder invested about $3,100 and received 10,000 ETH.
At the reported value, the holding gained about 7,381 times its original cost. However, the holder’s identity remains unknown.
Lookonchain wrote, “An Ethereum ICO participant 0xCD59 transferred all 10,000 ETH to a new wallet after being dormant for 10.8 years.”
Market watches new wallet movement
Large movements from old wallets often attract attention in crypto markets. Traders watch these transfers because they can come before selling.
However, the reason for this move is not confirmed. The transfer may be a wallet upgrade, custody change, or preparation for another transaction.
One market note said, “The exact purpose of the transfer has not been confirmed.” That remains the key point for traders.
The new wallet has become a focus for on-chain watchers. Any later exchange deposit could raise fresh market interest.
Dormant Ethereum whales remain in focus
Ethereum ICO wallets hold a special place in market history. Many received ETH before the network became a major crypto asset.
Some old Ethereum holders moved funds during the 2025 bull run. Those transfers came as ETH traded near record levels.
This latest move happened while ETH traded near $2,300, based on the shared market data. The price stayed below its reported record high of $4,946.
For now, the 10,000 ETH remains a tracked on-chain event. The market is watching whether more ICO-era wallets become active.
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