Major Ethereum Investor Dumps 21,700 Ether After Long Inactivity, Pockets $38.9 Million
Rewritten Article:
Title: Ethereum Whale Awake: Three-Year Slumber Ends With a Bang
On April 17, 2025, a long-dormant Ethereum (ETH) address sprung to life, causing a stir in the crypto community. After lying dormant for three years, this early Ethereum ICO participant kicked things into gear, withdrawing a hefty 30,000 ETH, worth a cool $47.85 million. This was just the beginning of a months-long unloading escapade, as our whale-eyed friend continued to part ways with their digital fortunes.
April 17: The Big Show
Digging through blockchain data, analysts at Lookonchain unearthed the big move on April 17. The address 0x9269...5ff executed a trio of transactions, transferring 16,000 ETH, 8,000 ETH, and 6,000 ETH, according to Etherscan. furthermore, 3,000 ETH found its way to Kraken, with an additional 3,000 ETH deposited into the exchange. The crypto world couldn't help but wonder about the early bird ICO investor who had scooped up 76,000 ETH during the Ethereum crowd sale for a measly $23,560, making each token a mere $0.31 back in the day.
Mayhem in May
By May 4, Lookonchain reported that our Ethereum ICO champ had managed to unload 16,500 ETH, raking in a total of $29.35 million. Selling at an average price of $1,779 per ETH, the market weathered price swings ranging from $1,816 to $1,845, as per CoinGecko data. April showers turned into May flowers, with 3,000 ETH chunks chopped up and sold off during the transition from late April to early May.
Initially, the whale hunkered down with 13,500 ETH remaining in their wallet, a tidy sum worth approximately $24.8 million at that point.
May 7: More Moves in the Market
As of May 7, this Ethereum ICO participant found time for another grand digital purge. They moved another 5,200 ETH through two separate transfers totaling 2,700 ETH and 2,500 ETH to Kraken. The running tally on ETH sales now stands at 21,700 units worth $38.9 million.
By this point, the whale's ETH assets had been whittled down to a mere 8,300 ETH, which held a then-current value of $15.28 million using ETH's prevailing market price.
Long-Term Impact on the Ethereum Market
The whale's strategic, gradual selling strategy could not outpace the resilience of the Ethereum market. Despite significant selling activity, Ethereum's market value stayed robust. This demonstrates that early Ethereum ICO adopters have cashed in substantially, with profits totaling approximately $121 million on an initial investment of just $24,000.
This case study highlights the rewards of being an early Ethereum ICO adopter and also showcases how large-scale selling can be managed without tanking the market.
1.The dormant Ethereum address, after three years of inactivity, withdrew a significant 30,000 ETH on April 17, 2025, marking the start of a long-term unloading process.
2.On April 17, the address 0x9269...5ff executed three transactions, transferring 16,000 ETH, 8,000 ETH, and 6,000 ETH, with 3,000 ETH going to Kraken and another 3,000 ETH being deposited into the exchange.
3.By May 4, this Ethereum ICO participant had managed to sell 16,500 ETH, earning a total of $29.35 million, with thecrypto market experiencing price swings in the process.
4.On May 7, the address moved another 5,200 ETH through two separate transfers, totaling 2,700 ETH and 2,500 ETH to Kraken, raising the total ETH sales to 21,700 units worth $38.9 million.
5.Despite the whale's strategic, gradual selling strategy, the Ethereum market remained resilient, demonstrating the substantial profits early Ethereum ICO adopters have earned, totaling approximately $121 million on an initial investment of just $24,000. This case study underscores the benefits of early Ethereum ICO adoption and reveals how large-scale selling can be managed without affecting the market adversely.
