An Ethereum ICO participant who had been dormant for three years has moved 150,000 ETH (approximately 646 billion won) to a staking address. According to on-chain data, the transactions, which involved three addresses simultaneously on Thursday, represent the first such activity since February 2022.
It's noteworthy that he chose to stake ETH rather than sell it, even though it was purchased for an average of $0.31 during the 2014 Ethereum ICO and has now risen to $4,331, a nearly 14,000-fold increase. This contrasts sharply with recent ICO participants who have sold off $19 million and $2.3 million of their tokens to exchanges.
This is interpreted as a signal of long-term confidence in the Ethereum ecosystem. Staked ETH can create upward price pressure due to a decrease in circulation, and it is significant that even early investors chose to participate in the network rather than cash out.
For domestic investors, the moves of major investors offer a lesson: they don't necessarily mean selling. Rather, they are focusing on generating long-term profits through ecosystem participation, making it time to consider utilizing staking services, which are also gaining popularity in Korea.
Ethereum is currently trading at $4,331, down 1% from the previous day.
