A long-inactive Ethereum wallet dating back to the 2014 initial coin offering (ICO) has been reactivated, drawing attention across the crypto industry. Blockchain data from Lookonchain confirms that the investor transferred 2,000 ETH to Binance after nearly a decade of inactivity.

Originally acquired for just $620 at an average cost of $0.31 per token, the holdings are now valued at approximately $5.2 million, assuming a market price near $2,600 per ETH. This represents a staggering return of over 8,270%.

Prior to making significant transfers, the wallet conducted a small test transaction of 0.002 ETH. Over the subsequent two days, the entire balance was systematically split and deposited into Binance in several transactions, the largest being nearly 1,000 ETH.

The movement coincided with heightened market volatility caused by escalating geopolitical tensions between Israel and Iran. Ethereum’s price briefly dropped from $2,760 to $2,470, triggering over $1 billion in liquidations, particularly in the $2,650–$2,430 range, as reported by Binance.

Despite the brief downturn, Ethereum showed resilience, rising by 3.2% over the past week—outperforming the broader crypto market, which declined by approximately 2.7%. At the time of writing, ETH is trading at around $2,616, up 3.9% in the last 24 hours.

Still, Ethereum remains 26.6% down year-over-year and trades more than 46% below its all-time high of $4,878, recorded nearly three years ago.

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