A prominent Ethereum initial coin offering (ICO) participant has sold 13,600 ETH worth approximately $47 million over the past three weeks, accelerating a sustained divestment strategy observed over the past year. The transactions occurred at an average price of $3,456 per ETH, reflecting calculated exit positioning rather than panic selling.
The whale’s current holdings now stand at 59,718 ETH, valued at $210 million, marking a significant reduction from the initial 1 million ETH acquired during Ethereum’s ICO phase. This entity has consistently reduced exposure without acquiring additional ETH for more than two consecutive years, signaling a deliberate long-term liquidation approach.
Persistent large-volume transfers to exchanges increase sell-side pressure on ETH markets, potentially influencing price volatility and liquidity conditions. Given the whale’s substantial remaining holdings, market analysts emphasize that monitoring this wallet’s activity remains critical for anticipating future supply dynamics and Ethereum price trends.