Ethereum ICO Investor Sells $23 Million in ETH After Years of Holding

An early participant in Ethereum’s initial coin offering (ICO) sold 11,552 ETH, valued at approximately $23.4 million, according to Lookonchain tracking data. The transactions were carried out in multiple transfers at an average selling price of about $2,027 per ETH.

Blockchain analytics linked the wallet to Ethereum’s original token sale nearly a decade ago. The investor initially purchased 38,800 ETH for roughly $12,000, paying close to $0.31 per token at the time. At current market levels, the remaining holdings from that early purchase would be worth tens of millions of dollars.

Long-Term Holders Continue Profit-Taking Activity

The recent sale follows similar moves from other long term Ethereum holders who have begun trimming positions after holding assets through multiple market cycles. Earlier in the week, another ICO-era wallet transferred 15,002 ETH, worth around $31 million, to an exchange while still maintaining a significant balance.

Ether declined about 4.6% over the past 24 hours, trading near $1972, reflecting broader market pressure as early investors continue realizing long-term profits.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.