Ethereum ICO whales have recently made headlines by offloading substantial portions of their holdings, with one whale transferring 5,000 Ethereum tokens to the Kraken exchange amid escalating sales.
A whale originally involved in Ethereum’s Initial Coin Offering (ICO) has recently conducted significant transactions, moving 5,000 ETH—currently valued at $12.22 million—to Kraken just hours ago. The key activity highlights ongoing trends among major holders in the crypto space.
Over the past two weeks, this particular ICO whale has parted with 45,000 ETH, amassing over $113.2 million at an average selling price of $2,516 per Ethereum. Since its participation in the ICO, the whale’s cumulative sales have reached 60,000 ETH, translating to a whopping $149.68 million, spread incrementally over several years.
The #Ethereum ICO participant with 150K $ETH(the ICO cost was $46.5K) continued to sell 5K $ETH($12.22M) 4 hours ago!
Since Sept 22, this whale has sold 45K $ETH($113.2M) at $2,516 and currently holds 94.5K $ETH($230.2M).https://t.co/NA6nFmFsTL pic.twitter.com/rEKUdzXBIC
— Lookonchain (@lookonchain) October 8, 2024
An Ongoing Pattern of Ethereum Whale Sales
The whale’s sale pattern stretches back several years, beginning with an initial sell-off in July 2019, when 5,000 ETH were sold for $1.09 million at a rate of $218 each. More recently, in June 2024, the whale capitalized on a higher rate, disposing of 10,000 ETH for $35.39 million, equating to $3,539 per ETH.
Fast forward to September and October 2024, the whale intensified its sales activity by selling 45,000 ETH at an average price of $2,516. Following this recent transaction, the whale retains a balance of 94,540 ETH, amounting to $230.3 million. Additionally, the whale has accumulated a further 4,540 ETH through platforms such as Lido and Rocket Pool.
Exploring the Trend of Ethereum ICO Wallet Liquidations
The selling spree of Ethereum ICO whales isn’t isolated. In September, another participant liquidated 10,000 ETH and transferred these holdings to Kraken, marking the end of a two-year lull. Blockchain data showed that this whale sold for $24.37 million at an average Ethereum price of $2,437.
Despite these activities, the wallet maintains 9,298 ETH valued at $22.63 million. This whale also emerged from the early days of Ethereum’s ICO, receiving 50,000 ETH for a modest $15,500 in 2015.
Reemergence of Long Dormant Ethereum Whales
Another instance involves a whale who remained inactive for more than nine years, but has recently begun reallocating assets, originally acquired during Ethereum’s Genesis block period. This address, which initially secured 2,000 ETH, was dormant for over 3,000 days before showing recent movement in August 2024.
During this period, the whale’s wallet redistributed the 2,000 ETH—initially purchased at $0.31 per ETH—across three distinct accounts. Such movements underscore the ongoing activity of Ethereum’s early investors, who occasionally surface after years of inactivity.
Disclaimer: This content is intended for informational purposes only and does not constitute financial advice. The opinions expressed herein are solely those of the author and may not reflect the collective views of The Crypto Basic. Readers are strongly urged to conduct comprehensive research prior to any financial investments. The Crypto Basic assumes no responsibility for any losses incurred.
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