A new one has been added to the examples of the movement of early Bitcoin and Ether wallets, which have been frequently seen recently. An Ethereum ICO participant moved 1111 ETH in his wallet for the first time in 9 years.

He bought 2000 ETH

It is seen that the wallet followed by Lookonchain received 2000 Ether during the ICO period. Ether price was $0.31 at that time. The total value of 1111 Ether, which came out of the wallet valued thousands of times and moved to the new wallet, is around $3.7 million.

What could be the reason for the transfer?

There may be more than one reason under such transfers. The most prominent of these is usually security concerns. The risk of old-style wallets being hacked allows users to switch to new technology wallets.

Another reason may be that users who have achieved great wealth over the years may want to separate their wallets to diversify their investments and move to a new order. Sending and selling assets to exchanges may also be included in this strategy.

In addition, there are also people who have lost and found their passwords or forgotten that they had such an investment years ago and remembered it later… These people may also be switching to new wallets to realise their profits.