Early ICO Wallet Becomes Active Again
An early Ethereum ICO participant has reactivated a wallet after roughly a year of inactivity and sold 9,628.54 ETH, cashing out approximately $19.72 million. The move drew attention because the address belongs to a very early holder whose acquisition cost was far below current market prices.
According to the report, the wallet originally obtained 38,800 ETH in 2015 at around $0.31 per ETH. With the latest sale executed at an average price of about $2,049 per coin, the difference between the original cost basis and the sale price highlights the scale of gains available to long-term holders from Ethereum’s earliest days.
18,500 ETH Moved Before the Sale
Before the sale was carried out, the wallet transferred 18,500 ETH to another address and then proceeded with the disposal of part of its holdings. In on-chain markets, transfers of this size are closely watched because they can indicate portfolio restructuring, profit-taking, or preparations for further transactions.
Importantly, the whale does not appear to have fully exited its position. The report notes that the address still retains a significant amount of ETH after the transaction. That suggests the latest move may represent partial profit realization rather than a complete liquidation of the holder’s exposure.
Why the Market Watches Old Whale Wallets
Movements from early Ethereum ICO wallets often attract outsized attention. These addresses can hold substantial balances, and even a single large sale may influence short-term sentiment and liquidity expectations. At the same time, profit-taking by holders with extremely low entry prices is often viewed by traders as a signal worth monitoring.
Still, one transaction alone does not define a broader market trend. What is clear for now is that a long-dormant Ethereum ICO whale has sold nearly ten thousand ETH for about $19.72 million, while continuing to hold a sizable remaining position. Any further activity from the wallet is likely to stay on the market’s radar.