Hold onto your hats, folks, because an Ethereum giant has just made some serious moves! An Ethereum ICO whale that's been swimming under the radar has surfaced, selling off a jaw-dropping 19,000 ETH, which translates to a cool $47.54 million. That's right, this crypto behemoth has been holding a fortune since the dawn of Ethereum and is now cashing in big time!
This isn't the first time our whale friend has made headlines. Just last week, they caused a stir by dropping 12,010 ETH worth $31.6 million onto the Kraken exchange, after being quiet for over two years. Talk about making waves!
Back in the day, during the Ethereum ICO between July and September 2014, this savvy investor snagged 150,000 ETH for just $46.5K. Fast forward to today, and that initial investment ballooned to over $358 million before these recent splashes.
Ethereum's early days were like a treasure hunt, with the ICO raising a whopping $18 million. When Ethereum officially launched in July 2015, early contributors were rewarded handsomely with 80% of the tokens.
Lately, it seems like the sleepy giants of the Ethereum world are waking up. Just last month, another Ethereum address broke its nine-year slumber with a modest 5 ETH deposit, and yet another long-dormant participant transferred over $9 million in ETH to Kraken this year.
These moves are rare gems in the crypto world, occurring amid a storm of fear, uncertainty, and doubt (FUD) as Ethereum prices took a nosedive, dropping nearly 10% over the past week to below $2,400. Critics are buzzing, with some saying even the original Ethereum enthusiasts are jumping ship. But not everyone is joining the chorus of concern. Ethereum advocate Anthony Sassano is calling out the endless FUD, expressing frustration over the industry's lack of interest in the truth.
Despite the drama, it seems like the big players aren't giving up on Ethereum just yet. Institutional investors are back in the game, with nine spot Ether ETFs seeing an influx of $14.45 million in early October. BlackRock's ETHA led the charge, pulling in $18.04 million, while Franklin Templeton's EZET followed with $1.81 million.
So, as the crypto world turns, one thing's for sure: Ethereum's story is far from over, and these whales are keeping us on the edge of our seats!
