A major early investor in Ethereum has been offloading a huge chunk of their holdings. This isn’t just pocket change; we’re talking serious crypto cash.
Millions in ETH Sold
According to blockchain analysts, this whale—someone who participated in Ethereum’s initial coin offering (ICO)—has sent a staggering $171.78 million worth of ETH to the Kraken cryptocurrency exchange in 2024. That’s 48,687 ETH, averaging about $3,528 per coin. The latest transfer over the weekend added another 3,370 ETH to the total.
Almost All Gone
Analysts believe this investor originally acquired 200,000 ETH back in 2015. After years of selling, they’re almost completely out of ETH. Only a relatively small amount—around 7,594 ETH ($25.72 million)—remains. Experts predict this will be sold off in one or two more transactions.
Other Early Investors Stirring
It’s not just this whale making headlines. Another Ethereum ICO participant, dormant for nearly a decade, recently transferred a small amount of ETH (0.01 ETH) to a new wallet. This individual originally received 1,940 ETH during the ICO, now worth millions.
Ethereum’s Price Surge
It’s worth noting that Ethereum’s price has skyrocketed since its ICO. It’s currently trading at around $3,356, a massive increase of over 1,082,480% from its initial price of $0.31.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrency is risky, and you could lose money. Always do your own research before making any investment decisions.
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