Big Dormant ICO Ethereum Wallet Activates, Starts Selling ETH Hard

"Smart Money" tracking bot @lookonchain has shared some interesting data about an Ethereum wallet that has awakened after zero activity, which lasted for two years. After waking up, he began selling his ETH actively.

In the meantime, another whale, who obtained nearly 300,000 ETH during the ICO of Ethereum, also awakened and has begun to send their ETH to Kraken, selling a portion of these coins.

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30,000 ETH sent to exchanges in four days

According to the X post of @lookonchain, the wallet was reactivated four days ago. Right after the awakening, @lookonchain says, the whale transferred 10,000 ETH worth $16.5 million out of his wallet. The next move was transferring the same amount of Ethereum to three exchanges — Binance, OKX and KuCoin — via three wallets over the past four days.

The next transaction was made earlier today as the whale again moved 10,000 ETH out of his wallet.

ICO whale starts selling his ETH

The same source reported that another massive Ethereum whale has begun to sell his ETH riches. This whale took part in the initial ETH token offering (ICO) in 2014 and received 254,908 ETH in total there — this amount of crypto now costs approximately $422.6 million.

From this stash, he deposited 6,000 ETH worth roughly $10 million into the Kraken exchange.

When he obtained this Ethereum in 2014, each of those coins was worth merely $0.31.

As of this writing, the second largest crypto Ethereum is trading at $1,643, according to data provided by CoinMarketCap. Over the past 24 hours, the ETH price soared by 2.52%.