Ethereum News Today: Early Ethereum Investor Sends 2300 ETH Worth $9.9M to Kraken

An early Ethereum investor from the 2014 initial coin offering (ICO) transferred 2,300 ETH, valued at approximately $9.9 million, to the Kraken exchange in a single transaction [1]. The move, which occurred during Asia morning hours, has rekindled interest in large-scale movements from long-dormant ICO-era wallets and their potential influence on market liquidity. Following the transfer, the wallet retained 1,623 ETH, suggesting a partial realization of gains while maintaining a substantial reserve [1]. The address, identified as 0x845…a210c, originally received 20,000 ETH for about $6,200, which is now worth around $86.6 million [1].

This transfer represents the latest in a series of gradual distributions from the same wallet, which had previously released 3,000 ETH in November 2023, 1,000 ETH in February 2024, and 250 ETH in December 2024 [1]. These staged movements indicate a measured strategy for liquidity generation, rather than a sudden offload of a significant portion of the holding. The wallet’s activity reflects the long-term capital appreciation available to early Ethereum participants who have held through multiple market cycles and protocol upgrades.

At the time of the transaction, Ether had risen roughly 1% in the past 24 hours to trade near $4,300, its highest level since December 2021 [1]. The broader market rally has coincided with growing on-chain activity and anticipation for new U.S. crypto-related products, which have helped absorb the impact of large sell flows. Despite the size of the transfer, the upward price trend suggests that current market demand is sufficient to absorb such movements without triggering sharp corrections.

The historical significance of the transaction lies in its connection to Ethereum’s capital formation. Public records show that the 2014 ICO raised approximately $18.3 million by selling over 60 million ETH at an average price of $0.31 (adjusted for BTC to ETH rates) [1]. The initial supply of 72 million ETH, launched in July 2015, allocated roughly 83% to ICO participants, many of whom have experienced multi-fold returns over the years. The continued movement of tokens from these early addresses serves as a transparent indicator of Ethereum’s evolving supply dynamics and investor behavior.

As Ethereum approaches multi-year highs, the liquidity conditions on centralized exchanges remain a focal point for traders and analysts. The recent Kraken transaction demonstrates how large movements from long-held wallets can draw attention without necessarily disrupting price trends. It also highlights the ongoing relevance of ICO-era participants in shaping the market, particularly as more dormant positions begin to see activity amid strengthening demand.

Source:

[1] title: Massive Ethereum Transfer: Early Investor Sends $9.9M to Kraken

url: https://crypto-economy.com/massive-ethereum-transfer-early-investor-sends-9-9m-to-kraken/