The Early Investors of Ethereum’s ICO
Ethereum’s initial coin offering (ICO) in 2014 Q3 managed to raise around $16 million in just 42 days. The tokens were priced at approximately $0.311 each, and since then, many early investors have sold their holdings. However, there are still some who continue to hold a portion of these coins.
An interesting development occurred on November 29 when an ICO Ethereum wallet address deposited 3,000 ETH (equivalent to $6.19 million) into the Kraken exchange. This early investor acquired 20,000 ETH for just $6,200 during the ICO. With Ethereum trading at $2,055 per token currently, this individual has profited over 660,000% from this single sell.
Furthermore, on-chain activity reveals that this investor made additional purchases between January 2018 and February 2020, acquiring 1,004 ETH at an average price of $771.7 per token. They also deposited a total of 15,735 ETH at an average price of $1,555. As of now, they still possess 5,172 ETH worth approximately $10.7 million.
The Ethereum (ETH) ICO
The Ethereum Foundation announced the ICO on July 22, 2014, with an initial price of 0.0005 BTC per ETH. This meant that 1 BTC bought 2,000 Ethers at that time. Eventually, the price progressed to a final rate of 1,337 ETH per Bitcoin (BTC).
According to ICODrops, it is widely accepted that Ethereum had a final price of $0.311 by August 30, 2014. The ICO raised an estimated total of $16 million through selling tokens. The Ethereum Foundation kept 12,009,990.50 ETH, while close to 72 million ETH were initially distributed from the Genesis block.
Currently, there are 120.24 million ETH circulating in the cryptocurrency market, with the first 72 million accounting for nearly 60% of its entirety. New tokens are distributed to staking validators approximately every 14 seconds on average.
Hot Take: Profits and Growth from Ethereum’s ICO
Ethereum’s ICO in 2014 proved to be highly profitable for early investors. With the recent deposit of 3,000 ETH onto the Kraken exchange, an investor who acquired 20,000 ETH during the ICO for just $6,200 has seen their investment grow by over 660,000%.
Additionally, on-chain activity suggests that this investor has made further purchases and still holds a significant amount of ETH worth millions of dollars. The success of Ethereum’s ICO highlights the potential for substantial gains in the crypto market and demonstrates the long-term value of holding onto digital assets.
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