Some of Ethereum’s earliest investors have been moving large holdings, with on-chain data pointing to sales and exchange deposits by wallets active in the project’s early years.
Lookonchain reported that an Ethereum OG sold 3,000 ETH worth more than $7.2 million. The investor had acquired the tokens nine years earlier at $18.83 each, producing a return of about 128x on the original position.
Other early holders have also moved funds. Earlier this month, one early ETH holder deposited 6,369 ETH worth about $16 million to Kraken after accumulating the stash at $14 per token. Separately, an Ethereum ICO participant moved 13,330 ETH, worth well over $36 million, to Coinbase during October. That wallet originally received 170,000 ETH in the 2015 ICO at $0.31 per token.
Price backdrop
The transfers came during a volatile period for ether. The asset rose from below $2,000 to $2,800 over a few months before the advance stalled, then fell to $2,300 during a market-wide pullback and recovered to $2,400 as of press time.
The recent activity follows an August move by another ICO investor who transferred all 2,000 tokens, then worth $3.77 million, to Coinbase roughly 11 years after buying them for $622. The move represented an increase of more than 6,000x from the original purchase.
