TL;DR
- An early Ethereum ICO wallet sent 2,300 ETH, worth about $9.9 million, to Kraken, keeping 1,623 ETH back. The move hit during Asia hours and came as Ether traded near multi-year highs, heightening liquidity watch.
- The address originally received 20,000 ETH for roughly $6,200, now valued at around $86 million on today’s prices. Prior drips included 3,000 ETH in November 2023, 1,000 ETH in February 2024, and 250 ETH in December 2024.
- Ether rose roughly 1% to near $4,300, the highest since December 2021, muting sell impact. The episode underscores how ICO-era supply still moves, yet markets often absorb it amid stronger demand.
An early Ethereum investor moved 2,300 ETH to Kraken early Monday, a transaction worth roughly $9.9 million that reignited attention on long-dormant ICO-era wallets and their market impact. The transfer arrived as Ethereum trades near multi-year highs, sharpening focus on potential distribution from early holders and on exchange liquidity conditions as large tickets meet thinner books today.
An #Ethereum ICO participant who received 20,000 $ETH( cost $6,200, now $86.6M) just sold another 2,300 $ETH($9.91M) 20 minutes ago, leaving him with 1,623 $ETH($6.99M).https://t.co/Rv0RcDPtgH pic.twitter.com/ffxwgXUDEg
— Lookonchain (@lookonchain) August 11, 2025
On-chain details
Blockchain data ties the transfer to address 0x845…a210c, which sent the 2,300 ETH in a single shot to Kraken. After the outflow, the wallet retained 1,623 ETH, suggesting a partial realization of gains while keeping a meaningful balance in reserve. The timing landed during Asia morning hours, a window that can see quicker price reactions when sizable tickets hit centralized venues. No linked fresh self-custody surfaced.
Whale’s historical stash
The wallet is a known participant from Ethereum’s 2014 initial coin offering, originally receiving 20,000 ETH for about $6,200. That allotment is worth around $86 million at today’s prices, illustrating the compounding available to the earliest backers who held through cycles and protocol milestones. Prior activity shows staging, including 3,000 ETH in late November 2023, 1,000 ETH in February 2024, and 250 ETH in December 2024 by this address.
Market context
Ether has increased by approximately 1% in the last 24 hours, trading near $4,300, which is its highest level since December 2021. The spot rally coincides with building anticipation around new US products and improving on-chain activity, factors that can cushion order books against isolated sell flows. Even so, exchange-bound flows can prompt traders to fade strength or hedge until the venue absorbs supply more fully.
Why it matters
ICO wallet transactions serve as a public record of Ethereum’s capital development. The public record shows the 2014 sale raised about $18.3 million, selling over 60 million ETH at an average of $0.31, with BTC to ETH rates adjusted. That fundraiser seeded a July 2015 launch and an initial supply of 72 million ETH, roughly 83 percent of which went to ICO investors who have since enjoyed returns.
