Several Ethereum whales who accumulated ETH during the project’s early years are selling their holdings or transferring them to centralized exchanges after holding them for nearly a decade. These transactions involve positions acquired at prices far below current levels.
According to data from Lookonchain, an early Ethereum investor sold 3,000 ETH for more than $7.2 million. The whale had purchased the tokens nine years earlier for less than $19 each, with an initial investment of approximately $56,000. The sale generated a return of roughly 130 times the whale’s original investment.
An #EthereumOG who bought 3,000 $ETH($7.23M now) at only $18.83 nine years ago sold today, making a 128x return!https://t.co/tUMi07RLsy pic.twitter.com/jG32qwjdQk
— Lookonchain (@lookonchain) October 23, 2026
In early October, another long-term whale deposited 6,369 ETH, worth approximately $16 million, into Kraken. The tokens had originally been purchased for around $14 each. During the same month, an Ethereum ICO participant transferred 13,330 ETH, valued at more than $36 million, to Coinbase. The investor’s original position came from a purchase made in 2015 at $0.31 per token.
The transactions took place after ETH underwent a price correction, falling from approximately $2,800 to $2,300 before recovering toward $2,400. However, deposits to exchanges do not necessarily confirm that the assets have been sold.
A similar transaction occurred in August, when an ICO investor transferred 2,000 ETH, then worth $3.77 million, to Coinbase. The investor had acquired those tokens for just $622, representing an increase of more than 6,000 times the initial investment.
Source: https://x.com/lookonchain/status/2113465196811538822
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