An old Ethereum wallet has been activated for the first time in 6.5 years
wallet containing 1,947 ETH has been activated for the first time since 2015, according to Twitter account Whale Alert.
Considering that the original investment was only $2,336, whoever owns the aforementioned address has made a staggering 220,799% profit. It's not clear whether someone had such a high level of conviction or simply discovered a dusty old wallet. It’s also possible that the owner finally managed to unlock his or her Ether after losing access to the crypto fortune.
Ethereum, the second-largest blockchain, was launched in 2015 in order to decentralize the internet following an $18 million crowdsale that made it possible to fund the project’s development. The project was first announced by co-founderThe cryptocurrency originally started trading at $2.77 on the Kraken exchange before dropping to just $0.68 due to selling pressure.
Despite the rough start, Ethereum started witnessing rapid growth and exploded in popularity during the initial coin offering boom of 2017, with its price peaking at $1,400.The ETH token careened to a minuscule $85 during the 2018 bear market before witnessing an enormous price rally in 2021. The cryptocurrency benefited from the immense speculative frenzy in the decentralized finance sector and non-fungible tokens , ultimately peaking at a whopping $4,878 on Nov. 10.
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