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- Ethereum ICO whale sells millions as early holders shift strategies
- Dormant Ethereum wallets reactivate, signaling major profit-taking trend emerging
- Large ETH sales highlight changing behavior among long-term crypto investors
A fresh wave of selling from one of Ethereum’s earliest investors is drawing strong attention across the crypto market. On-chain records indicate that a dormant wallet has begun to sell large amounts of holdings, indicating that early users have changed their behavior. This is an activity which shows that early adopters are currently transforming long dormant assets into actual profits in years of inactivity.
According to Lookonchain, an Ethereum ICO-era wallet identified as “0xd64A…7ED7” recently moved 18,500 ETH valued at about $38.1 million. Soon after, 11,552 ETH was sold in several transactions with a valuation of about $23.4 million with an average price of about $2,027. This trend is an indication of a premeditated action as opposed to an abrupt liquidation process.
Historical data connects this wallet to Ethereum’s initial token sale nearly a decade ago. The investor purchased 38,800 ETH at a cost of around $12,000 at that period, that is, $0.31 per token. Even after recent sales, the remaining holdings still represent a substantial unrealized profit.
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Early Ethereum Holders Begin Coordinated Profit-Taking
In the meantime, in the network similar trades have emerged, and this supports the premise that early holders are gradually de-exposing themselves. Another wallet that just transferred and sold 15,002 ETH worth approximately $31 million ETH recently. These changes show that the early investors are exploiting the liquidity available with them ensuring that they have a well laid out exit plan.
Furthermore, these wallets had not been active over the years since they had survived the numerous market cycles without any major movement. Their recent activity gives an indication of a review of market conditions since the prices are still lower than before. Ether is trading around $2,058, a drop of 2.6% in a day, and is more than half of its August 2025 high.
Also, the selling strategy also seems to be well controlled, making the transactions divided into smaller steps so that there are no drastic price responses. This approach will enable investors to make profits and reduce the destabilization of the markets.
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