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One of the participants in the 2015 Ethereum initial coin offering (ICO) transferred 5,000 ETH to an external address on Monday, October 26. Of this amount, the investor sent 1,500 ETH to a centralized exchange, as revealed by blockchain analyst EmberCN.
During the 2015 ICO, the early investor acquired 100,000 ETH at a price of $0.311 per coin. The total investment amounted to approximately $31,000, making this “whale” one of the largest early holders of Ethereum. Later, in 2016, the investor sold half of their holdings (50,000 ETH) at a price of $5.47 per coin. This transaction yielded approximately $274,000, which was 17 times the initial cost.
The remaining 50,000 ETH remained untouched for 11 years. However, the recent transfer of 5,000 ETH may indicate that the owner has decided to change their long-term strategy. Transferring funds to an exchange suggests that the owner intends to sell them. The 1,500 ETH transferred to the exchange are currently valued at $3.45 million, although the sale has not yet been confirmed. The purpose of transferring the remaining 3,500 ETH also remains unknown.
Over the past week, Ethereum fell by 4.7% to $2,316, with a market capitalization of $283.2 billion. Currently, the second-largest cryptocurrency by market cap is trading 53% below its all-time high of $4,953, reached in August of last year. The daily trading volume of the coin decreased by 11.3% over the week to $8 billion.
In October, Arkham analysts recorded the sale of 76,370 ETH worth $204.7 million by three major retail investors, one of whom purchased the cryptocurrency nine years ago at $14 per coin. Analysts believe that investors may have simply changed their method of storing assets due to the increasing frequency of cold wallet hacks.
