Ethereum ICO whale wakes after 10.8 years — $3,100 turned into $22.88M!

A wallet linked to Ethereum's 2014 ICO just moved 10,000 ETH — worth $22.88 million at current prices — after sitting completely dormant for 10.8 years. The original investment was $3,100, implying a return of roughly 7,381x.

Dormant ICO wallets moving after a decade are rare events that tend to draw attention for two reasons: they signal that early believers are finally taking profit, and they add sell-side supply that the market has to absorb. Whether this holder is liquidating or simply consolidating custody remains to be seen.

Either way, the move is a vivid reminder of Ethereum's long-run value creation — from sub-cent ICO pricing to a multi-billion-dollar network where a single early position can clear eight figures.