Ethereum ICO Whale Returns After A Decade, Turns $3,100 Into $22.88M

A decade-dormant Ethereum(ETH) ICO wallet moved 10,000 ETH worth $22.88 million to a new address, marking a 7,381x return on a $3,100 stake.

Wallet 0xCD59 Stirs After 10.8 Years

On-chain tracker Lookonchainflagged the transfer on Wednesday. The sending address, 0xCD59, acquired its 10,000 ETH at the network's 2015 ICO price of $0.311 per token.

Etherscan records show the funds were routed to address 0x5C96, a fresh wallet with no prior history.

None of the ETH has reached an exchange so far, leaving intent unclear.

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Whale Activity Pattern Returns

Analysts note that recent ICO-era reactivations have produced mixed outcomes, with some holders selling and others choosing to stake.

In December 2025, dormant wallet 0x2dCA holding 40,000 ETH resurfaced after more than a decade and moved its balance into staking rather than liquidating. A separate September 2025 transfer saw an 8-year-old wallet shift 150,000 ETH into staking contracts.

Last month, address 0xd64A sold 11,552 ETH for $23.42 million at $2,027 per token, drawing heavy market attention.

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