Ethereum

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An early Ethereum investor has taken profits after holding for nearly 8.5 years. The whale sold a portion of their holdings for a 446x return.
According to the details shared by <a href="https://x.com/EmberCN/status/1835480135849607338" target="_blank" rel="noopener noreferrer nofollow">Ember CN</a>, the investor originally received 16,636 ETH from cryptocurrency exchange ShapeShift in February 2016. At the time, each Ethereum token was valued at just $5.23. This means that the whale only spent $87,135 for purchasing 16,636 ETH.
<h3 id="16-636-ethereum-worth-over-37-6-million">16,636 Ethereum worth over $37.6 million</h3>
Now, almost 8.5 years later, the whale’s 16,636 ETH holding value has reached over $37.6 million. This is a 446-fold increase from the initial investment.
After holding onto their Ethereum for several years, the whale transferred their entire holding of 16,636 ETH to a new address. From this new wallet, the whale moved 350 ETH to sell them for $2,340 each.
There have been quite a few notable incidents of large whale movements waking up after years of dormancy. One such <a href="https://x.com/lookonchain/status/1818225590207398134" target="_blank" rel="noopener noreferrer nofollow">transaction</a> happened on July 30, 2024, when an Ethereum ICO participant woke up after 9 years of dormancy.
This investor moved 1,111 ETH to a new wallet in four separate transactions. Earlier in July, <a href="https://x.com/whale_alert/status/1815427035868631200" target="_blank" rel="noopener noreferrer nofollow">Whale Alert</a> notified the community that another dormant wallet address was activated after 9 years of inactivity. The whale reportedly held 977 ETH during that time.
<h3 id="54-of-ethereum-holders-in-profit">54% of Ethereum holders in profit</h3>
Ethereum is currently down considerably from its one month high of $2,820. Data from CoinMarketCap shows that ETH is trading at $2,260 at press time. ETH is also down by over 6.4% in the last 24 hours.
Despite the market correction, <a href="https://app.intotheblock.com/coin/ETH" target="_blank" rel="noopener noreferrer nofollow">IntoTheBlock</a> data shows that ETH holders are mostly making at the current price. According to their data, 54% of the holders are in profit. In addition, 39% of the holders are in loss, while 7% of them are in neutral.
Interestingly, 74% of the ETH holders have held onto their Ethereum for well over a year. Only 23% of holders have held for the duration of 1–12 months, while 3% of the holders have held for less than a month.

Early Ethereum investor sells 350 ETH after 8.5 years, 446x gains realized

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