Ethereum ICO Whale Resurfaces After 8 Years, Stakes $645M Worth of ETH

An early Ethereum investor who received 1,000,000 ETH for participating in the initial coin offering (ICO) recently woke up after 8 years of dormancy. According to on-chain analysis from Lookonchain, this whale moved 150,000 ETH, worth about $645 million, into a staking wallet.

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

$310K ICO Investment Grows to $4.3B Fortune

The whale originally invested around $310,000 across three wallets during the ICO, receiving 1,000,000 ETH. Thanks to the significant appreciation in the ETH price over the years, this investment is now worth over $4.3 billion, representing an extraordinary return. 

After staking, the whale still holds about 105,000 ETH, worth about $451 million, across two wallets. Several Ethereum ICO whales have recently resurfaced, moving funds amid growing bullish sentiment around ether. 

Often, the activation of dormant crypto addresses triggers speculation and uncertainty in the industry, especially if tied to early adopters. In this case, however, the whale’s decision to stake rather than sell reassured investors, signalling confidence in Ethereum’s long-term future rather than chasing immediate profits.

Whale Signals Long-Term Commitment

By locking up such a large amount of ETH, the whale not only demonstrated confidence but also reduced the circulating supply. This move could tighten availability on exchanges and place pressure on Ethereum’s price. 

Furthermore, Ethereum’s proof-of-stake system generally offers annual yields between 2% and 4%, depending on participation rates and validator setup. Thus, the whale’s decision reflects both a commitment to the network and a strategic approach to generating passive income.

This event highlights the potential for wealth accumulation in the crypto space. It also signals potential bullish momentum for ETH traders monitoring whale activity. On-chain metrics indicate that the total staked ETH has been steadily increasing, now exceeding 34 million ETH locked, which represents roughly 28–30% of the total supply. 

Meanwhile, the second-largest cryptocurrency, Ethereum, has experienced broader institutional interest with rising staking participation and renewed whale activity. For instance, BitMine has aggressively expanded its ETH treasury. The firm now holds 1,947.299 ETH, which is approximately 1.55% of the total ETH supply. At press time, Ethereum was trading at $4,412, representing 0.05% in the last 24 hours. 

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