A long-dormant Ethereum ICO whale staked 150,000 ETH worth $645M, drawing attention to Ethereum’s price outlook.
An Ethereum investor who acquired coins during the 2014 initial coin offering has reappeared after years of inactivity. The wallet moved 150,000 ETH, valued at about $645 million, into a staking address this week, raising questions in the market about the future direction of the token’s price.
Dormant Wallet Awakens After Eight Years
On-chain data showed that the funds came from three wallets linked to Ethereum’s ICO. These addresses had been quiet since February 2022 when they processed non-ETH transactions. The investor originally purchased 1 million ETH during the 2014 sale for $310,000, when ether was priced at $0.31.
That early purchase has grown to an estimated value of $4.3 billion today. After this latest transaction, the individual still controls about 105,000 ETH across two wallets, worth roughly $451 million. The decision to stake rather than sell has drawn attention from traders who often watch these whale movements closely.
Other ICO participants have also become active in recent months. In August, one wallet moved 2,300 ETH to an exchange, while another sent $19 million worth of ether to Kraken. Market watchers note that these transfers show dormant supply returning, but staking has been seen as less disruptive to trading activity.
Staking as a Growing Trend Among Large Holders
Ethereum’s proof-of-stake system now secures more than 33 million ETH, and older investors are joining this process in larger numbers. By staking, holders can earn rewards while also supporting the security of the network. The recent 150,000 ETH transaction is among the largest deposits by an individual investor in recent memory.
Lookonchain data confirmed that despite the large movement, the whale still holds more than 850,000 ETH, estimated at $3.7 billion. The choice to commit funds to staking rather than liquidating them has been viewed by some analysts as a sign of long-term confidence in Ethereum’s model.
An #Ethereum ICO participant who received 1,000,000 $ETH just woke up after 8 years of dormancy.
He moved 150,000 $ETH($645M) to a new wallet for staking.
He invested $310K in the ICO via 3 wallets and received 1,000,000 $ETH — now worth $4.3B.
After staking 150,000 $ETH, he… pic.twitter.com/B5CBTBJ2O5
— Lookonchain (@lookonchain) September 5, 2025
Institutional interest in ether has also grown this year. Bitmine acquired nearly 70,000 ETH for $300 million, and Galaxy Digital and FalconX wallets together picked up over 100,000 ETH. Santiment data shows wallets holding between 1,000 and 100,000 ETH increased their balances by 14% over the past five months.
Market Performance and Future Outlook
Ethereum’s price has climbed strongly in 2025, rising 76% in the last 90 days and outperforming bitcoin’s 7% gain. The token recently traded near $4,442 after reaching close to $5,000, its all-time high. ETF inflows have been a driver of this momentum, with August alone seeing $3.87 billion invested into ether-linked funds.
Large corporate players have also expanded their holdings. Ether Machine raised $654 million in September, following earlier financing that included a $741 million contribution in ether. SharpLink reported holdings of $3.4 billion worth of ETH and noted that future value may track the expansion of assets like stablecoins, real-world tokenized assets, and DeFi collateral.
With stablecoins forecast to grow from $275 billion to $2 trillion and tokenized assets potentially reaching $16 trillion, some industry executives suggest that Ethereum’s role in securing these assets could drive further demand. The reemergence of early ICO whales adds to this narrative, as their decisions on whether to stake or sell continue to attract attention from market participants.
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