What Would You Do if You Bought ETH For $0.311 per Token in 2014?

TL;DR

• One nameless degen purchased 254,900 ETH in at an ICO value of $0.311 per token again in 2014, and has by no means moved over 47,000 ETH – till yesterday.

Full Story

This’ll age us however…we bear in mind the ‘ICO period’ of crypto.

When you have no concept what that’s, for some time between ~2013-2018 or so, ‘initial coin offerings’ had been all the trend.

They had been a preferred approach to increase funds by means of crypto, letting many individuals have a small stake in your organization (by means of tokens), however as a substitute of everybody having to be an accredited investor, those that can work out crypto wallets, can make investments.

(There are a number of blurry strains with ICO’s, however that’s not the purpose of this text).

A few notable tokens raised their preliminary funding by means of an ICO – like Ethereum which raised ~31,000 BTC in July 2014, equal to about $18.3M USD on the time.

From that ICO, most individuals who purchased in early have since offered.

One nameless degen although, purchased 254,900 ETH in at an ICO value of $0.311 per token, and has by no means moved over 47,000 ETH, ever.

Till yesterday – after they moved 7000 ETH (price about $24.3M USD) from their chilly pockets to Kraken.

Why is that this essential?

When somebody strikes their crypto for the primary time after years of holding, it often suggests two issues: they’re about to money out (for fiat foreign money), or they’re about to degen into their subsequent massive crypto wager.

For cash with smaller market caps, motion like this from a single pockets may very well be enormous trigger for concern.

However with ETH hangin’ regular at a cool $417B+ USD proper now, $24.3M isn’t a drop within the ocean.

Alright, now you realize!