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An early Ethereum ICO investor has moved to sell a fresh batch of his stash as prices trade near multiyear highs. Blockchain records show the wallet, which bought 100,000 ETH during the 2014 ICO for about $31,000, sold 4,283 ETH. This recent transaction, according to Lookonchain data, is worth roughly $18.97 million.
Ethereum whale's sales since 2021
It is worth noting that the same address has been selling consistently since 2021. In total, it has offloaded 44,284 ETH over the last few years at an average price of $2,378.
These sales have brought in around $105 million in profit. Despite large disposals, the investor still HODLs 55,716 ETH, which is valued at about $261.6 million at current prices.
Ethereum’s price has risen dramatically in recent weeks, trading around $4,670.70 as of press time. This marks a gain of more than 6.05% in the last 24 hours. Notably, the rally has lifted Ethereum’s market value to about $563.87 billion, putting it ahead of major companies like Netflix and Mastercard.
More importantly, both retail traders and large institutions have been adding to positions, with corporate reserve plans now a growing factor on the market.
Ethereum price targets and institutional demand
Standard Chartered has raised its forecast for Ethereum, now expecting it to reach $7,500 by the end of 2025. The bank’s previous target was $4,000, and it has revised its 2028 projection from $7,500 to $25,000.
This view is linked to announced corporate reserve plans that could bring total institutional holdings to $30.4 billion.
Current holdings are estimated at $7.59 billion. Mining company BitMine has outlined the largest allocation, with plans to acquire $22 billion worth of ETH, or roughly 5% of the total supply.
Meanwhile, Cathie Wood, the CEO of ARK Invest, is still positive about Ethereum. Some analysts think ETH could one day reach $22,000 if demand keeps growing. With long-term holders selling for profits and big investors planning large buys, Ethereum’s market is staying active and getting a lot of attention.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team