Ethereum Whale Transfers $10 Million in ETH to Kraken After Holding Since 2014 ICO

Long-term Ethereum whale transfers 6,000 ETH from 2014 ICO purchase to Kraken exchange, worth nearly $10 million after massive growth.

A whale Ethereum investor who participated in the asset's 2014 ICO recently moved 6,000 ETH worth over $9.8 million to an exchange after holding for nearly 9 years. The ETH was part of an original 254,908 ETH purchase at $0.31 per token in 2014, meaning the stake grew an astounding 531,361% in value over that timeframe.

The on-chain transfer of the 6,000 ETH to an exchange cost just $2.80 in fees, indicating the whale still retains substantial holdings despite some profit-taking. Blockchain analysis shows the whale wallet still holds over 49,070 ETH worth roughly $80.7 million.

The wallet's long-term hold strategy contrasts with behavior of many other large ETH holders who dumped substantial portions in 2022 amid price peaks per analytics firm Santiment. However, this whale's recent exchange transfer could signal a coming uptick in ETH selling pressure from major holders seeking to lock in gains.

Key Takeaways:

- Whale moves 6,000 ETH from 2014 ICO purchase to exchange after holding 9 years
- Original 254,908 ETH buy at $0.31 per token grew 531,361% to over $9.8M
- Whale wallet still holds 49,070+ ETH worth ~$80.7M despite transfer
- Contrasts with other large holder dumping in 2022 price peaks
- Recent transfer could precede more ETH sell pressure from major holders

Sep 20, 2023