A participant in Ethereum's initial coin offering (ICO) has resurfaced after remaining dormant for over eight years. They today moved 61,216 ether (ETH), worth over $116 million, to crypto exchange Kraken.

The participant had received the ETH only for 31 cents a coin at Ethereum's Genesis, worth around $18,980 at the time, on-chain analysis account Lookonchain noted. One ETH is currently trading at over $1,900.

The Ethereum ICO participant was inactive for more than 2900 days. Source: Lookonchain via Etherscan 

ETH transfer 

The reason behind the participant’s transfer of ETH to Kraken remains unclear. Such movements to crypto exchanges often indicate an intention to sell an asset, stake it or acquire other assets. The ETH price remains unaffected by the transfer, with the …