Ethereum ICO Whale Stakes $646M After Three Years Dormant

An early ether ETH investor just rejoined the market’s economic layer with one of the largest staking deposits in recent memory.On-chain data flagged 150,000 ETH, worth about $646 million, moving from three wallets tied to Ethereum’s 2014 initial coin offering into a staking address on Thursday evening. The wallets had been inactive since February 2022, when they processed non-ETH transactions.The investor originally received 1 million ETH during the ICO for a $310,000 outlay — effectively buying ether at $0.31. That position is now valued near $4.3 billion, according to Lookonchain data. Even after this week’s movement, two wallets still hold another 105,000 ETH, worth $451 million.It’s the latest in a string of resurfacing ICO whales. Last month, one participant transferred…