One of Ethereum’s earliest investors just moved a large chunk of long-dormant ETH into staking.
On Thursday evening on-chain trackers flagged 150,000 ETH — roughly $646 million at current prices — transferred from three wallets linked to Ethereum’s 2014 initial coin offering into a staking address. The wallets had been essentially inactive since February 2022.
The holder originally acquired 1,000,000 ETH during the 2014 ICO for about $310,000 (roughly $0.31 per ETH). That original position is now worth an estimated $4.3 billion, according to Lookonchain. After this week’s activity, two wallets still retain 105,000 ETH — about $451 million.
Market participants often treat resurfacing ICO wallets as a sign that dormant supply may enter circulation. In this case the funds were moved into staking rather than on-chain exchanges. Staking removes immediate liquidity by locking ETH with validators, which can reduce short-term sell pressure even if it does not guarantee returns.
Why this matters: Ethereum’s staking layer has passed 33 million ETH this year, and more long-term holders are participating as yields stabilize and staking infrastructure matures. Large deposits from early investors can shift supply dynamics and influence market sentiment, even if the coins are not being sold.
Readers should note that staking changes liquidity profiles rather than eliminating market risk: staked ETH still faces protocol and market variables, and returns are subject to network conditions.
Source: Lookonchain. Read the original coverage for full details.