Ethereum Initial Coin Offering Contribulator Transfers over 630 Ether for Initial Instance
In a recent development, several long-dormant Ethereum ICO wallets have become active again, signalling strategic sell-offs by early investors. One such wallet, which originally received 20,000 ETH during the 2014 ICO for around $6,200, transferred a significant 2,300 ETH (approximately $9.9 million) to Kraken in August 2025. This leaves the wallet holding 1,623 ETH, worth nearly $7 million.
This activity is part of a gradual liquidation strategy observed since late 2023, with prior partial sales occurring in November 2023, February 2024, and December 2024. The timing of these transactions aligns with Ethereum trading near multi-year highs (around $4,300), amid a bullish breakout from a long-standing symmetrical triangle technical pattern.
Analysts interpret this whale activity and technical breakout as signals of strong market fundamentals and growing institutional demand. This has fueled optimism about further price increases, with some targets as high as $15,000, implying a potential 372% increase from current levels.
Despite profit-taking by some early investors, markets have absorbed these large transfers amid strong demand and increasing institutional interest. This dynamic illustrates how long-held ICO-era supply still influences liquidity and market sentiment but often without causing major price disruptions when demand is robust.
Another Ethereum ICO participant became active after eight years, sending 0.01 ETH. The identity of the wallet owners in all cases remains unknown. In late July, another participant moved 2000 ETH for the first time in nine years, depositing it to Coinbase. The transaction occurred in the past 10 hours as the market rebounded. The participant distributed the 2000 ETH across two new wallets. This wallet originally held 1,940 ETH, then valued at just $601.
Interestingly, a Bitcoin wallet dormant for nearly 12 years moved all 500 BTC it held, worth nearly $35 million, in March. The reasons for these wallets' extended periods of inactivity remain unknown.
These developments highlight the ongoing influence of early ICO investors in the current market, even as they gradually liquidate their holdings. As the market continues to evolve, it will be interesting to see how these sales impact the overall price action and market sentiment.
- The activity of early Bitcoin investors also mirrors that of Ethereum, as a Bitcoin wallet dormant for nearly 12 years transferred all 500 BTC it held, worth nearly $35 million, demonstrating the ongoing influence of early Initial Coin Offering (ICO) participants in the current market.
- While Ethereum and Bitcoin technology have experienced strategic sell-offs by early investors, the strong market fundamentals, growing institutional demand, and robust demand have minimized the impact of these large transfers on market sentiment, and optimism about further price increases persists.
