An address containing 61,216 ETH that participated in Ethereum’s initial coin offering (ICO) has sent all the assets valued at $116 million to the Kraken exchange.

After more than eight years of dormancy, the wallet initiated the transfer, which took place on July 18. The whale first sent a test transaction of 0.05 ETH to the Kraken address before sending all of the balance to the same address.

Blockchain analyst Lookonchain first reported the transaction, noting that the address received all of the assets at Ethereum Genesis. The whale spent less than $300,000 to purchase the holdings as ETH was trading for $0.31 at the time.

Despite ETH trading at nearly $2,000 at the time of writing, the investor has seen an over 40,000% increase due to the asset’s positive price movement.

The …