Early Ethereum ICO Whale Moves $2.96M to Kraken
An Ethereum ICO participant resurfaces after 4 years, moving 800 ETH to Kraken and realizing over $13M in profit.
- ICO whale deposits 800 ETH ($2.96M) to Kraken
- Received 8,950 ETH for just $2,783 during Ethereum’s ICO
- Still holds 1,780 ETH with total profits of $13.36M
Ethereum ICO Whale Returns After 4 Years
In a rare move, an early Ethereum ICO participant has reappeared after nearly four years of inactivity. On July 22, the wallet deposited 800 ETH—worth approximately $2.96 million—into the crypto exchange Kraken.
This wallet originally received 8,950 ETH back in 2015 for a mere $2,783 during Ethereum’s initial coin offering (ICO). That translates to an average cost of about $0.31 per ETH. With this latest transaction, the participant has now realized a staggering return of 4,803%.
Massive Returns from Ethereum’s Early Days
Despite cashing out 800 ETH, the wallet still holds 1,780 ETH, currently valued at around $6.59 million. Combined with previous withdrawals, the total profit from this early investment stands at an incredible $13.36 million.
Stories like this underscore the explosive growth Ethereum has experienced since its early days. It’s a powerful reminder of how transformative early investments in crypto can be—especially for those who held through multiple market cycles.
What Does This Mean for the Market?
Movements of old wallets often spark speculation in the crypto community. Large ETH transfers to centralized exchanges like Kraken may suggest an intent to sell, which can create short-term price pressure. However, in this case, only a portion of the wallet’s ETH was moved, and a significant amount remains untouched.
These kinds of transactions also offer insight into how early crypto adopters are beginning to manage their wealth—some choosing to cash out gradually while others continue to hold long-term.
As Ethereum’s ecosystem evolves, the reactivation of dormant wallets highlights the lasting value perceived by its earliest supporters.
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