One of the Ethereum investors has recently sold 2,300 ETH for approximately 9.9 million dollars in a new market rally. The trade was done on the Kraken exchange and monitored by blockchain analytics company Lookonchain. The wallet address of the investor is marked as "0x845…a210c" and now contains 1,623 ETH, which at the recent prices comes to $86 million.
This wallet received 20,000 ETH when Ethereum used their Initial Coin Offering (ICO) in 2014, investing only 6200 dollars. The price of Ethereum has just hit $4,300, and as such, the tokens that the investor still holds have significant unrealised gains. The original investment is now yielding more than 12,000% returns, which indicates the long-term potential of the crypto assets at an earlier stage.
The same investor has registered a profile of periodic sales during the last two years. In November 2023, 3,000 ETH were sold by the wallet. Then it sold 1,000 ETH in February 2024 and 250 ETH in December 2024, respectively. This shows a steady and phased systematic liquidation over the period, which implies that risk control and diversification will be achieved.
The recent increase in the cost of Ethereum to more than 4,300 is the highest since late 2021. It has emerged as the second-largest cryptocurrency, whose value has surpassed half a trillion dollars. Increased institutional participation and the continuation of the network upgrades are identified by analysts as the factors behind the row's positive price movement.
The recent guidance by the SEC on the classification of digital assets has also helped to provide more positive sentiment in the market. This clarity of the regulation has incentivised long-term investment and brought legitimacy to significant crypto assets such as Ethereum.
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The Ethereum ICO in 2014 raised $18.3 million and minted 60 million ETH. The average price at which the participants bought the ETH was $0.31. With time, those who got in early have found their investments go up in value.
The recent sale by the investor displays the power of strategic sell-offs at even market peaks, providing a locked-in gain with hugely retained exposure. It also serves as a reminder of how better timing and patience are required within the crypto space, where the prices can change quickly and randomly.