Ethereum ICO Whale Sells $23M ETH Amid Market Dip, What Fuels the Sale?
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Early Ethereum ICO whale sold 11,552 ETH (~$23.4M) at an average price of ~$2,027 during a market dip, realizing gains from an original 38,800 ETH ICO holding bought for about $12,000. Wallet still holds nearly $50M (over $30M in stablecoins) and has redeployed >$9M USDC into Aave to earn yield — a risk-off crypto/DeFi move that reduces volatility exposure but creates short-term selling pressure on ETH.
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- An early Ethereum ICO participant sold 11,552 ETH worth $23.4 million.
- The wallet holds nearly $50M in crypto, of which more than $30M in stablecoins.
- Over $9M in USDC deployed on Aave, earning yield while reducing price volatility exposure.
An early participant in the Ethereum ICO sold over $23 million worth of ETH in one hour. The transaction occurred during a market downturn. On-chain data shows the investor shifted funds into stablecoins and lending protocols rather than exiting completely.
Whale Realizes Gains After Years of Holding
Blockchain data shows that a long-term Ethereum holder sold 11,552 ETH at an average price of about $2,027. The wallet, identified as one of Ethereum’s earliest participants, originally acquired 38,800 ETH during the network’s initial coin offering for about $12,000.
This means the investor turned a relatively small early…
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Coins
$ 1.74K
-3.45%
$ 0.99970
+0.01%
$ 69.75
-3.63%
$ 0.99978
+0.04%
$ 0.9939
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In This News
Coins
$ 1.74K
-3.45%$ 0.99970
+0.01%$ 69.75
-3.63%$ 0.99978
+0.04%$ 0.9939
Funds
Predictions Markets
See what traders are focused on
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