Ethereum ICO Whale Sells $38.9M in ETH Since April
An early Ethereum investor has sold over 21,000 ETH since April 17, signaling potential profit-taking after years of dormancy.
- Early ETH investor sold 5,200 ETH worth $9.54M recently
- Total sales since April 17 now exceed $38.9M
- Whale still holds 8,300 ETH, worth over $15M
Dormant Whale Awakens with Major ETH Sales
A long-silent Ethereum ICO whale is back in action. In the past hour alone, this early investor sold another 5,200 ETH, cashing out $9.54 million. This latest move brings his total sales since ending a years-long dormancy on April 17 to 21,700 ETH, valued at approximately $38.9 million.
This wallet, which first received ETH during Ethereum’s 2015 ICO, had remained inactive for years. Now, with ETH prices stabilizing and the crypto market showing signs of recovery, the whale is offloading large amounts—at an average price of $1,792 per ETH.
Still Holding Millions in ETH
Despite the heavy selling, the wallet still holds 8,300 ETH, currently worth over $15 million. This suggests that the whale is not entirely exiting the market, but rather strategically realizing profits while maintaining a sizable position.
Such moves by early investors often attract attention, as they may signal shifts in long-term sentiment or expectations for market cycles.
What It Means for the Market
Whale movements like these can cause short-term price fluctuations, but they’re also a reminder of how much value was created in Ethereum’s early days. It also highlights the long-term patience of early backers who waited nearly a decade before moving their tokens.
The fact that this ICO participant is gradually selling instead of dumping all at once could indicate a measured approach, aimed at minimizing impact on the market. Traders will be watching closely to see if more ETH is moved in the coming days.
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