Key Takeaways
- An Ethereum ICO participant sold 2,300 ETH worth $9.9M on Kraken.
- The whale initially bought 20,000 ETH for just $6,200 in 2014.
- ETH’s price has climbed above $4,300, its highest since Dec 2021.
Ethereum ICO Whale Sells $9.9M in ETH on Kraken
Big data from the blockchain indicate that a significant sale of assets belonging to one of the earliest Ethereum investors was made. Analytics agency Lookonchain has identified an address that moved 2,300 ETH to the crypto exchange Kraken, which is about $9.9 million, early Monday morning.
The sale of this address also means that its new balance is 1,623 ETH, although at the beginning it received 20,000 ETH from the Ethereum’s 2014 ICO. This purchase cost around $6,200 at that time and now it is worth about $86 million, which is one of the most incredible stories of cryptocurrency value growth.
From ICO Bargain to Multi-Million Dollar Gain
The Ethereum ICO was held from July 22 to September 2, 2014, and the project collected $18.3 million by selling over 60 million ETH at an average price of $0.31 per token. In those days, 1 BTC initially bought 2,000 ETH, later it was changed to 1,337 ETH as the price of Bitcoin was fluctuating.
This deal is not the first one with which the whale has decided to exit the market. They have made withdrawals before, including 250 ETH in December 2024, 1,000 ETH in February 2024, and 3,000 ETH in November 2023, among others.
The rise in Ethereum price over the last 24 hours by 1.64%, which exceeded $4,300, is a peak that the token has not experienced since December 2021. The current price level of Ethereum means that the initial ICO contribution has returned an investment multiplied by more than 12,000 times.
The ICO itself was one of the most influential fundraising events in blockchain history, launching Ethereum’s network in July 2015 with an initial supply of 72 million ETH, 83% of which went to ICO backers.
Summary
An Ethereum ICO whale has cashed out $9.9 million worth of ETH, trimming holdings but still sitting on tens of millions in unrealized gains. The sale comes as ETH reaches its highest price in nearly four years, underscoring the extraordinary ROI for Ethereum’s earliest supporters.
Also Read: Ethereum ETFs Outpace Bitcoin in Fresh Inflows Surge
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