A long-standing Ethereum wallet that participated in the 2017 ICO has recently made a notable move after more than 7 years of inactivity. According to data from OnchainLens, this address transferred 1,700 ETH (valued at approximately $3.18 million) to Binance, sparking speculation about the owner's motives.

This wallet was confirmed as one of the addresses that received ETH from the Genesis Block – the initial distribution when Ethereum was launched. Since then, this address had no transactions at all, until suddenly becoming active today.

The ETH transferred to Binance accounts for approximately 34% of the wallet's total balance, while the remaining 3,300 ETH (estimated at over $6 million) is still being stored in Cold Storage, with no signs of movement.

This move occurs against the backdrop of significant volatility in the cryptocurrency market. Ethereum has recently experienced strong price adjustments, and the whale's movement of ETH to the exchange could cause concern for many.