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A dormant Ethereum genesis address holding 790 ETH since block zero was activated on Wednesday, moving roughly $1.78 million after more than a decade of inactivity.
The address, labeled on Etherscan as a “Genesis Address” and identified by the string 0xed41e1a28f5caa843880ef4e8b08bd6c33141edf, received 790.174 ETH directly at Ethereum’s genesis block on July 30, 2015. The allocation came from the project’s pre-mine and initial coin offering (ICO) distribution.
At the time, ETH traded around $0.31 during the 2014 crowdsale, implying an initial value of approximately $244 for the wallet.
The address recorded zero outgoing or incoming transactions from 2015 through May 12, 2026—about 3,940 days, or 10.8 years. Around 21:47 UTC on May 13, 2026, the wallet became active for the first time.
It began with nine small test transactions, including dust amounts near 0.0000001 ETH.
The holder then moved approximately 790.1739 ETH across two transfers: 1 ETH followed by 789.17388714 ETH. The destination was a brand-new receiving address identified as 0x0b9bcde72cd4390a9f91f5f52a29e0535e695942, which had zero prior history and was created for this transfer.
At roughly $2,257 per ETH at the time of the move, the transferred balance carried a value near $1,782,979. Whale Alert was the first major onchain monitoring account to flag the transaction publicly.
Using the reported genesis pricing, the wallet’s value grew from about $244 to approximately $1.783 million—around a 7,300-fold return over 10.8 years. The article also notes that if the holder had moved during ETH’s all-time high near $4,878, the same stack would have been worth over $3.85 million.
The original address retains a small residual balance near 0.000024 ETH and negligible legacy token holdings, including minor amounts of LPT and OMG from early decentralized finance experiments.
The article says there are no signs currently pointing to an imminent exchange deposit or market sale. Moving funds to a fresh wallet is described as a common pattern among long-term holders from this era, potentially indicating custody updates, preparation for over-the-counter (OTC) deals, or consolidation ahead of future activity.
The last similar event cited occurred on April 28, when a different Ethereum ICO wallet holding 10,000 ETH transferred its full balance—worth approximately $22.88 million to $23.1 million at the time—to a new address beginning with 0xCD59. That destination wallet also received its ETH during Ethereum’s genesis-era distribution in July 2015, when the stake was worth roughly $3,110.
Onchain analytics firms flagged the April move, including Whale Alert, noting a return in the range of 7,381 to 7,465 times the original cost.
The article states that if the new receiving address shows further movement—such as transfers toward known exchange deposit addresses or staking contracts—onchain feeds and parsers are expected to register it quickly. As of the time of this report, the funds remain in the fresh wallet with no additional outbound activity recorded.
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