Ethereum News Today: Ethereum ICO Investor Sells 2300 ETH Worth $9.9M to Kraken

An early Ethereum ICO participant has transferred 2,300 ETH, valued at approximately $9.9 million, to Kraken, according to on-chain analytics and multiple crypto news outlets [1][2]. This move, part of an ongoing series of smaller distributions over the past year, marks the participant’s continued liquidation of a portion of their holdings. Initially receiving 20,000 ETH in 2014—then worth around $6,200—the investor now holds approximately 1,623 ETH following the latest transaction [3][4]. The sale represents a strategic, measured approach to liquidity rather than a full withdrawal from the market.

The Ethereum ICO participant has executed prior sales in November 2023, February 2024, and December 2024, each involving smaller amounts of ETH [1]. These transactions suggest a long-term plan to gradually unlock value as the market environment remains favorable. Ether’s price has risen to nearly $4,300, its highest level since December 2021, driven by increasing on-chain activity and anticipation for new U.S. crypto products [5]. The large ETH sale was absorbed smoothly by the market due to strong liquidity, with no immediate signs of price volatility.

The 2014 Ethereum ICO raised approximately $18.3 million by selling over 60 million ETH, with 83% of the initial 72 million supply allocated to participants [1]. Many of these early investors have seen substantial returns over the years, and the recent activity from long-dormant wallets reflects a broader shift in Ethereum’s supply and liquidity dynamics. This particular transaction underscores the ongoing influence of early Ethereum participants on the market, particularly as more historical ETH continues to circulate.

Centralized exchanges like Kraken play a key role in facilitating such large transactions. Despite the significant size of the transfer, the broader Ethereum market has remained resilient, highlighting the depth of buyer demand in bullish conditions [1]. This pattern of partial sell-offs by long-term holders may serve as an indicator of market sentiment and liquidity readiness, especially as early Ethereum addresses increasingly show signs of movement amid strong price action.

The transaction also highlights the transparency of blockchain activity, enabling real-time visibility into large movements of crypto assets. Analysts suggest that while such whale sales can create short-term pressure on the order book of the receiving exchange, they rarely alter the long-term trajectory of ETH unless paired with broader macroeconomic catalysts [3]. The continued activity from early Ethereum investors offers valuable insights into the maturing crypto market and the increasingly institutional-like approach to liquidity management.

[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/

[2] title: Ethereum ICO Whale Sells 2300 ETH Worth $9.9M

url: https://www.bitrue.com/blog/ethereum-ico-whale-sells-2300-eth-9-9m-onchain-data

[3] title: Lookonchain - X

url: https://x.com/lookonchain/status/1954769794445738489

[4] title: Ethereum ICO Buyer Turned $6200 Into $85 Million

url: https://cryptorank.io/news/feed/ca386-ethereum-ico-buyer-turned-6200-into-85-million-begins-selling

[5] title: Ethereum passes $4300, making nearly all Ethereum addresses profitable

url: https://sherwood.news/crypto/ethereum-passes-usd4-300-making-nearly-all-ethereum-addresses-profitable/

[6] title: Ethereum News Today: Ethereum IEO Whale Moves

url: https://www.ainvest.com/news/ethereum-news-today-ethereum-ieo-whale-moves-10-000-eth-kraken-price-rally-2508/