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 <p class="paragraph">Ethereum’s (ETH) initial coin offering (ICO) in 2014 Q3 raised approximately $16 million in 42 days at a final estimated price of $0.311 per token. Early investors have sold their positions over the years, but some are still holding part of these coins.</p>
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 <p class="paragraph">Notably, an ICO Ethereum wallet address deposited 3,000 ETH ($6.19 million) to the Kraken exchange on November 29. This pre-historic whale acquired 20,000 ETH for $6,200 in the initial coin offering, according to <em>SpotOnChain</em>.</p>
 <p class="paragraph">Considering Ethereum is trading at $2,055 by press time, this early investor profited over 660,000% with this single sell.</p>
 <p class="paragraph">Interestingly, on-chain activity shows further purchases of 1,004 ETH at an average price of $771.7 per token from January 2018 to February 2020. It also deposited a total of 15,735 ETH at an average price of $1,555 so far. There is still 5,172 ETH behind, worth approximately $10.7 million.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="964" height="590" src="https://cdn.thebittimes.com/images/2023/11/29/9058b6ca99b6af250e19a230772245a9.webp" alt class="wp-image-140243" srcset="https://cdn.thebittimes.com/images/2023/11/29/9058b6ca99b6af250e19a230772245a9.webp 964w, https://cdn.thebittimes.com/images/2023/11/29/9058b6ca99b6af250e19a230772245a9.webp 300w, https://cdn.thebittimes.com/images/2023/11/29/9058b6ca99b6af250e19a230772245a9.webp 768w" sizes="(max-width: 964px) 100vw, 964px">
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   Ethereum ICO whale historic – PnL overview. Source: <em>SpotOnChain</em>
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 <h2 class="wp-block-heading" id="h-the-ethereum-eth-ico">The Ethereum (ETH) ICO</h2>
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 <p class="paragraph">The Ethereum Foundation announced the ICO on July 22, 2014, starting at a price of 0.0005 BTC per ETH. This means 1 BTC bought 2,000 Ethers at that time, but the price progressed to a final 1,337 ETH per Bitcoin (BTC).</p>
 <p class="paragraph">Therefore, it is widely accepted that Ethereum had a final price of $0.311 by August 30, 2014, according to <em>ICODrops</em>. Estimations suggest a total of $16 million raised with the selling, besides 12,009,990.50 ETH kept by the Foundation, as reported by <em>Galaxy</em>. Essentially, close to 72 million ETH were initially distributed from the Genesis block.</p>
 <p class="paragraph">Ethereum currently has 120.24 million ETH circulating in the cryptocurrency market. The first 72 million accrues for nearly 60% of its entirety. Meanwhile, on average, new tokens are distributed to staking validators every 14 seconds.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-ico-participant-to-sell-3-000-eth-with-massive-profit-tbt72055.html">https://thebittimes.com/ethereum-ico-participant-to-sell-3-000-eth-with-massive-profit-tbt72055.html</a></p>

Ethereum ICO participant to sell 3,000 ETH with massive profit

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