Ethereum ICO Whale Offloads $9.9 Million to Kraken Amid Price Rally

An early Ethereum ICO investor transfers $9.9M in ETH to Kraken, adding to a series of large recent sell-offs.

Fridah Kangai
August 12, 2025
2:46 pm

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Ethereum ICO whale moves $9.9M to Kraken during rally.
Early investor sells thousands of ETH as price climbs.
Whale wallet shows consistent ETH sales over the past year.

An early Ethereum investor has moved a substantial amount of holdings, according to onchain analytics provider Lookonchain. The address “0x845…a210c” sent 2,300 ETH, worth about $9.9 million, to crypto exchange Kraken early Monday, leaving 1,623 ETH remaining in the wallet.

This wallet, created from Ethereum’s 2014 ICO, received 20,000 ETH when the price was $6,200. At current prices, the remaining holdings are valued at nearly $86 million, with the latest transfer coming as Ethereum trades above $4,300 after a 1.64 percent daily gain.

An #Ethereum ICO participant who received 20,000 $ETH( cost $6,200, now $86.6M) just sold another 2,300 $ETH($9.91M) 20 minutes ago, leaving him with 1,623 $ETH($6.99M).https://t.co/Rv0RcDPtgH pic.twitter.com/ffxwgXUDEg
— Lookonchain (@lookonchain) August 11, 2025

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Large Transfers Add to a Year-Long Selling Trend

Gestures in this address have been captured several times in the past year. The first 250 ETH was sent out in December 2024, then 1,000 ETH in February 2024, and 3,000 ETH in late November 2023. Such dealings reveal a consistent tendency to sell into strength when the market is rising.

Ethereum raised about $18.3 million in the ICO held between July 22 and September 2, 2014. More than 60 million ETH were sold at an average of 31 cents per ETH. The initial prices were quoted at 2,000 ETH per bitcoin before being revised to 1,337 ETH.

The money collected, which amounted to 31,531 BTC, went towards the construction of the Ethereum network. At the start of the platform in July 2015, the total initial supply was 72 million ETH, of which 83 percent went to ICO buyers.

Universal accessibility with no restrictions on investors made the ICO accessible to a large number of individuals. Using the current market as an example, the early adopters have earned a profit of over 12,000 percent, showing the tremendous increase in value of Ethereum over the years.

A significant transfer by this long-term holder is part of other large recent transactions associated with early Ethereum participants. Increasing prices are causing strategic sales and leaving large reserves untapped.

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