Ethereum ICO Whale Moves $47.8M After 3 Years

• Ethereum ICO whale awakens after 3 years of inactivity
• $47.8M worth of ETH transferred, with $4.78M sent to Kraken
• Whale initially received 76K ETH during Ethereum’s 2015 ICO

Dormant Ethereum ICO Whale Makes a Move

A long-dormant Ethereum ICO whale has suddenly come back to life, transferring a substantial 30,000 ETH, currently valued at approximately $47.85 million. This activity comes after three years of complete on-chain silence from the wallet, raising curiosity within the crypto community.

Out of the 30K ETH moved, 3,000 ETH, worth around $4.78 million, was deposited to the crypto exchange Kraken. Transfers to exchanges typically spark speculation of a potential sell-off, especially when large amounts are involved.

A Genesis Holder with $121M in ETH

This whale isn’t just any ETH holder. He was part of Ethereum’s 2015 ICO, receiving a whopping 76,000 ETH at a total cost of $23,560. That breaks down to a price of roughly $0.31 per ETH.

With today’s market value, those 76,000 ETH are worth an estimated $121 million—a staggering 5,000x increase in value. Despite moving a portion of his holdings, the whale still controls over 46,000 ETH, suggesting he’s not done with Ethereum just yet.

Why It Matters for the Market

Movements from early Ethereum holders often catch traders’ attention. Not only do they represent a large amount of ETH, but their actions could signal broader market intentions—such as profit-taking or portfolio reallocation.

The deposit to Kraken has sparked some market watchers to prepare for potential selling pressure. However, it’s worth noting that not all whale activity ends in a sell-off. Some may be simply reorganizing assets or testing liquidity.

Regardless of intent, this rare movement reminds us just how valuable early belief in Ethereum has become—and how closely the crypto world watches the actions of its oldest whales.