Early Ethereum holders are liquidating large positions (3,000–13,330 ETH each) totaling tens of millions as ETH trades near $2,400.
Macro & Markets ·
Multiple early Ethereum investors have moved substantial holdings to exchanges in recent weeks, signaling potential profit-taking after years of dormancy. One holder liquidated 3,000 ETH for $7.2 million, having purchased the tokens nine years prior at roughly $19 each—a nearly 130x gain. In parallel moves, another long-term holder transferred 6,369 ETH (approximately $16 million) to Kraken after acquiring the stash at $14 per token, while an ICO-era participant moved 13,330 ETH valued over $36 million to Coinbase, originally obtained during the 2015 initial coin offering at $0.31 apiece.
The timing of these withdrawals coincides with volatility in Ethereum's price. The token rallied from below $2,000 to $2,800 over several months before retracing to $2,300, then recovering to $2,400 at the time of reporting. Such moves by decade-old wallets, previously inactive, suggest early investors may be rebalancing positions or capitalizing on elevated valuations. The pattern extends back at least to August, when another ICO participant moved 2,000 ETH to Coinbase, realizing a gain exceeding 6,000x on an original $622 investment.
What remains unclear is whether these transfers represent a coordinated exit by a cohort of early believers or individually motivated decisions tied to personal circumstances or market outlook. The data shows the fact of large movements but not the intentions driving them.