LookOnChain is a crypto-analysis firm that claims a participant in an Ethereum (ETH ICO) (Initial Coin Offering), has resurfaced after nine years. The wallet sent 1960 ETH, worth $5.87million.
LookOnChain states that wallet has received 1969.488 ETH During ETH Genesis. ETH traded at $0.31. The owner of the wallet purchased tokens at a cost of $610. The value of these holdings has risen to $5.9 million. This increase in value is equivalent to an approximately 962,195% growth.
Also Read: Ethereum Price Prediction Post ETF Launch: Is ETH Eyeing $3,500?
The wallet has not woken up in all these years. Whether the wallet owner will sell their ETH is also unknown. Investors may be looking to take profits.
Ethereum (ETH), May 2024 price prediction
![Ethereum (ETH) Mid-January Price Prediction](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Ethereum-Fees-Reach-6-Month-Low-Is-A-Rally-Coming-Soon.jpg)
CoinCodex predicts that ETH’s price will remain just below $3000 in this month. The platform predicts ETH’s maximum price to be $3111.23 on May 9, which may happen.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/Ethereum-ETH-Wallet-Wakes-Up-After-8-Years-With-59.png)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/Ethereum-ETH-Wallet-Wakes-Up-After-8-Years-With-59.png)
Changelly The same picture is painted for Ethereum (ETH), in May 2024. The platform expects ETH’s price to reach a high of $3.097.48 on May 18th. Changelly predicts ETH will reach a price maximum of $4,773.52 in this year. A growth of 59.5% would be achieved by reaching $4,773.52 compared to current prices.
Also Read: Ethereum ETFs to Outdo Bitcoin ETFs in Hong Kong, Expert Predicts
There is also a chance that this year, the US SEC will approve an Exchange Traded Fund (ETF) for spot Ethereum (ETH). This could lead to an unexpected spike in price of the asset, similar to what happened with the 11 Bitcoin ETFs approved for spot. Hong Kong financial A spot ETH ETF was also approved by the authorities recently. These two developments may lead ETH to regain its record high price of $4 878.26 that it reached in November 2021.
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Source: watcher.guru