Ethereum ICO Whale Sells 2,300 ETH Worth $9.9M, On-Chain Data Reveals

A long-term Ethereum whale from the project’s 2014 initial coin offering (ICO) has liquidated a substantial portion of their holdings, sending 2,300 ETH, worth about $9.9 million, to Kraken. 

This move comes amid Ethereum’s recent price surge past $4,300, its highest level since December 2021.

On-chain analytics provider Lookonchain identified the transaction early Monday, noting that the sending address, “0x845…a210c,” still holds 1,623 ETH following the sale.

The whale originally acquired 20,000 ETH during Ethereum’s ICO for roughly $6,200. At current prices, this original stash would be worth about $86 million, representing one of the most remarkable returns in cryptocurrency history.

Key Takeaways

• An Ethereum ICO whale sold 2,300 ETH worth about $9.9 million on Kraken.
• The address still holds 1,623 ETH after the sale.
• The whale bought 20,000 ETH in the 2014 ICO for just $6,200, now worth around $86 million.
• Ethereum’s price recently hit $4,300, its highest since December 2021.
• The 2014 Ethereum ICO raised $18.3 million and delivered over 12,000x ROI to early investors.

Details of the Whale Transaction

The transaction occurred in the early hours of August 11, 2025, transferring 2,300 ETH from the whale’s wallet to Kraken. Lookonchain data shows this is not the first time the address has sold ETH:

• December 2024: 250 ETH transferred.
• February 2024: 1,000 ETH transferred.
• November 2023: 3,000 ETH transferred.

Despite these sales, the whale still holds significant reserves, suggesting they are liquidating gradually rather than exiting the position entirely.

Read Also: Ethereum Whales Are Buying Again

Ethereum ICO: A Historic Fundraising Event

The Ethereum ICO took place between July 22 and September 2, 2014, raising $18.3 million by selling over 60 million ETH at an average price of $0.31 per token. 

Early investors could purchase 2,000 ETH for 1 BTC initially, later adjusted to 1,337 ETH per BTC as prices changed.

In total, the ICO collected 31,531 BTC, which funded Ethereum’s development. The network launched in July 2015 with a total initial supply of 72 million ETH, 83% of which went to ICO participants. The sale was open globally without geographic restrictions, enabling worldwide investor participation.

For early buyers, the investment has been extraordinarily profitable. At today’s price levels above $4,300, their returns exceed 12,000x.

Read Also: Ethereum Price to $15000: How These Data Supports It

Ethereum Price Momentum

Ethereum has seen strong upward momentum in recent weeks. Over the past 24 hours, ETH has climbed 1.64%, now trading above $4,300. This level was last seen in December 2021 before a prolonged bear market.

The surge is supported by multiple factors, including:

• Rising institutional demand through ETH-focused ETFs.
• Increased accumulation by treasury companies.
• Record activity in Ethereum futures markets.

The whale’s sale comes during this bullish trend, possibly to capitalize on profits after years of holding. However, given the address’s remaining balance, the investor still has significant exposure to future ETH price movements.

What This Sale Could Mean for the Market

Large whale transactions often spark speculation about potential price impacts. 

While 2,300 ETH is a notable sum, the broader market’s liquidity means this single sale is unlikely to cause a major price drop, especially given current bullish sentiment and strong trading volumes.

Instead, such moves can be seen as part of a natural profit-taking process by early investors. Given Ethereum’s historical volatility and recent price surge, it’s not unusual for long-term holders to rebalance their portfolios.

Read Also: Ethereum to $5000 Soon? 

Final Thoughts

The sale of 2,300 ETH by an ICO-era whale is a reminder of how transformative Ethereum’s early fundraising was for participants. Turning a $6,200 investment into over $86 million in value highlights the life-changing potential of early crypto adoption.

With Ethereum trading at multi-year highs and institutional interest growing, the whale’s decision to partially cash out may be both a personal milestone and a reflection of prudent portfolio management. 

For the market, it’s a sign that even during rallies, profit-taking remains a natural part of the cycle.

FAQ

Who sold the 2,300 ETH?

An Ethereum ICO participant known by the address “0x845…a210c” made the sale, according to Lookonchain.

How much did the whale originally pay for their ETH?

They bought 20,000 ETH for about $6,200 during the 2014 ICO.

How much ETH does the whale still hold?

They still hold 1,623 ETH after the recent sale.

When was Ethereum’s ICO held?

It took place from July 22 to September 2, 2014.

Will this sale affect ETH’s price?

Given current market liquidity and bullish momentum, the sale is unlikely to have a major long-term impact.