Ethereum Whale Continues Dumping ICO Holdings
An early Ethereum investor, who initially acquired 150,000 ETH during the project’s 2014 Initial Coin Offering (ICO), has resumed large-scale sell-offs. Blockchain analyst EmberCN reported the whale recently transferred 5,000 ETH (worth $12.22 million) to crypto exchange Kraken, signaling potential further liquidation.
Two-Week Selling Spree Nets $113M
Over the past 14 days, the whale sold 45,000 ETH for $113.2 million** at an average price of **$2,516 per ETH. This follows a pattern of strategic exits:
- July 2019: Sold 5,000 ETH at **$218/ETH** ($1.09M total).
- June 2024: Dumped 10,000 ETH at **$3,539/ETH** ($35.39M total).
- Sept–Oct 2024: Offloaded 45,000 ETH at **$2,516/ETH** ($113.2M total).
👉 Track real-time whale movements
Current Holdings: 94,540 ETH ($230.3M)
Despite selling 60,000 ETH ($149.68M cumulative), the whale retains **94,540 ETH** ($230.3M). Notably, 4,540 ETH stems from staking rewards via platforms like Lido and Rocket Pool.
Ethereum Price Reacts
ETH’s price dropped 3% in 24 hours and 7.4% weekly, now trading near $2,400. Market watchers attribute the decline to broader crypto volatility and whale activity.
FAQ: Ethereum Whale Activity
Q1: Why is the ICO whale selling now?
A1: Possible reasons include profit-taking, portfolio rebalancing, or anticipating market downturns.
Q2: How does staking income affect the whale’s holdings?
A2: Staking rewards (e.g., 4,540 ETH) passively increase their ETH balance despite sales.
Q3: Could this selling pressure crash ETH’s price?
A3: While large sales cause short-term dips, Ethereum’s robust ecosystem often absorbs such shocks.
👉 Explore Ethereum staking opportunities
Disclaimer: This analysis is for informational purposes only. Cryptocurrency investments carry risks.
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