A recent statement on Reddit has taken the cryptocurrency world by storm. A Reddit user has revealed that a wallet for the leading altcoin Ethereum has been dormant for nine years, making a profit of 5,300 times. Here are the details…
Huge profit made in altcoin wallet
A Reddit user discovered an Ethereum wallet that hasn’t moved since its ICO in 2014. The wallet currently holds more than 250,000 ETH, worth a staggering $410 million. The wallet has become one of the most mysterious and intriguing addresses in the Ethereum ecosystem. The owner of the wallet invested $75,000 during the ICO and hasn’t made a single transaction since. It’s a surprising fact that the wallet hasn’t been touched for the past nine years. The current value of this wallet makes it a symbol of the significant returns that cryptocurrency investments can offer.
The Ethereum ecosystem has grown exponentially since its ICO in 2014. ETH has risen in value and has become one of the most popular cryptocurrencies in the world. The owner of this wallet invested in ETH while it was still in its infancy. His investment resulted in a return on investment of 533,700 percent, a return almost unheard of on any other investment.
Why didn’t the wallet move?
The question that arises is why the owner of this wallet has not carried his ETH all these years. There could be several reasons for this. It is possible that the owner forgot the source statement or lost access to the wallet. In such a scenario, the owner cannot access their funds and the wallet remains untouched. Another possibility is that the owner patiently waits for the ETH value to rise even higher.
The current price of ETH is around $1,600, with many analysts predicting it could reach $10,000 in the future. If this happens, the value of the wallet will increase even more. The most unfortunate possibility is that the owner of the wallet has passed away and no one knows the seed phrase. It is a sad fact that many cryptocurrency investors do not take adequate measures to protect their investments. In this case, the wallet is forever inviolable and the owner’s heirs cannot access the funds.
ETH delivered huge returns
The discovery of this Ethereum wallet is a testament to the potential returns that cryptocurrency investments can offer. The fact that the wallet hasn’t moved for nine years is a mystery that adds to the intrigues of the cryptocurrency world. While there are several reasons for this, it is a fact that the owner of this wallet is sitting on a fortune that could change his life forever. In the report, as we reported as Kriptokoin.com, Alexis Ohanian, the co-founder and chairman of the board of Reddit, announced that he invested in the pre-sale of Ethereum in 2014 and currently has 50,000 ETH. This shows that he has achieved a 546,000 percent increase since his investment.
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