A dormant Ethereum wallet which has been inactive from 2015 has re-awakened, moving a total of 8,000 ETH, worth nearly $15 million, in only two minutes.

The wallet’s owner acquitted Ethereum tokens back in 2015, when ETH was just embarking in its humble initial coin offering (ICO). At that time, one ETH token was worth 31 cents. The cautionary wallet owner first transferred 1 ETH to a new wallet, and one minute later, the remaining 7,999 ETH were transferred to the new wallet address.

Basking in profits, the wallet’s holdings are worth $14.65 million at the time of writing. This represents a behemothic 590,000% upside compared to the initial investment of $2,500 in 2015. This is not the only instance which witnessed the re-awakening of dormant Ethereum wallets. On March 5, another ETH wallet transferred 10,226 ETH (worth nearly $20 million) were transferred to a new wallet address after 5 years of inactivity.

Large fund movements typically affect smaller cryptocurrencies, as their market capitalization and activity is limited to less users, while crypto giants like Bitcoin, Ethereum and Ripple are little moved whenever large sums of money are shifted.

Sources:

https://cointelegraph.com/news/dormant-ethereum-ico-wallet-awaken-years

https://tokenpost.com/Dormant-Ethereum-Wallet-Springs-Back-to-Life-Transfers-Millions-in-Minutes-10114