Ethereum ICO giant transfers 5,000 ETH to Kraken after liquidating $113M in just two weeks
A prominent Ethereum investor, who initially acquired 150,000 ETH through the project’s Initial Coin Offering (ICO), has recently begun offloading their coins once again.
According to crypto analyst EmberCN, the investor moved an additional 5,000 ETH to the popular exchange Kraken. This recent transaction amounted to approximately $12.22 million and occurred just a few hours ago.
Ethereum ICO whale chooses to sell
This transfer follows a significant selling spree by the investor over the past fortnight. During this period, a total of 45,000 ETH was sold, yielding an impressive $113.2 million at an average price of $2,516 per ETH.
EmberCN has shared the investor’s selling history, revealing a strategic approach to exiting at various price points.
一位通过 ICO 获得了 15 万枚 ETH 的重要投资者，不久前又将 5,000 枚 ETH 转移至 Kraken（价值 $12.22M）。
在过去的两周里，他已经出售了 4.5 万枚 ETH ，总价值约为 $113.2M，平均每枚售价为 $2,516。截至目前，这位投资者通过 ICO 获得的 15 万枚 ETH 其中的 6 万枚均已售出（总价值 $149.68M）：
1⃣2019 年 7 月以 $218 的价格出售 5,000 ETH… https://t.co/AQGzzopIyQ pic.twitter.com/sntybhTqLU— 余烬 (@EmberCN) October 8, 2024
In July 2019, the investor sold 5,000 ETH for $1.09 million when the price of Ethereum was $218 per coin.
In June 2024, the investor liquidated another 10,000 ETH, profiting $35.39 million at a token price of $3,539. The most recent sell-off occurred between September and October 2024, during which the investor sold 45,000 ETH at an average price of $2,516, earning $113.2 million from this single transaction.
Ethereum titan still retains 94,540 ETH
Overall, the investor has now divested 60,000 ETH out of their original 150,000 ETH obtained through the ICO. These sales have generated a total revenue of $149.68 million. Despite the substantial sell-offs, the investor continues to maintain a significant Ethereum portfolio.
Currently, the investor holds 94,540 ETH, which is valued at approximately $230.3 million based on current market prices. EmberCN suggests that the additional 4,540 ETH is attributed to staking income earned through platforms like Lido and Rocket Pool.
This movement by the investor comes at a time when the price of ETH has experienced a decline of over 3% within the past 24 hours. CoinGecko data indicates that ETH has dropped by more than 7.4% in the last seven days, with the cryptocurrency currently hovering around the $2,400 level.