An original investor in Ethereum has recently made a surprising move by transferring millions of dollars worth of ETH after a long period of inactivity. This revelation comes from blockchain tracking company Lookonchain. The individual in question participated in Ethereum’s initial coin offering (ICO) back in 2014 and received 150,000 ETH during the Genesis block.

According to Lookonchain, the initial investment of $46,500 has now skyrocketed in value to approximately $389.7 million, representing an astonishing increase of 837,964%. This investor, who had been dormant for over two years, has now woken up and sent 3,510 ETH, valued at $9.12 million, to the Kraken crypto exchange. It is speculated that this crypto stack could potentially be sold on the open market.

Lookonchain has also reported another investor who has made significant profits by accumulating over 96,000 ETH during the bear market of 2022 and subsequently selling large amounts this year. The most recent sale involved 15,000 ETH on September 21st. This investor’s savvy strategy of buying ETH during the bear market and selling during the bull market has resulted in a profit of $131.72 million.

The whale in question purchased 96,639 ETH, equivalent to $151.42 million, from Coinbase at a price of $1,567 on September 3rd and 4th, 2022. They then deposited 70,000 ETH, amounting to $214.34 million, into Kraken since March 6th, leaving them with 26,639 ETH, valued at $68.81 million.

As of now, Ethereum is trading at $2,660, representing a more than 3% increase in the past 24 hours.

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