A long-term holder of Ethereum (ETH), who participated in the initial coin offering (ICO), has been selling off a significant portion of their tokens. On-chain data from Arkham Intelligence shows that this “whale” moved 4,460 ETH, valued at about $19 million, to the Kraken exchange on a recent Monday morning.
This recent transaction is part of a larger trend, as the same address has deposited nearly 9,803 ETH, worth almost $44 million, to exchanges in the past week. Following this latest move, the address has only 197 ETH remaining.
This activity coincides with a recent price drop for Ethereum, which fell below $4,300 before recovering slightly, but is still down 5% over the last 24 hours. Just a week ago, ETH was nearing its all-time high of $4,800.
Significant movements of this kind from “whale” wallets—individuals or entities holding massive amounts of a cryptocurrency—are closely watched because they can signal an intent to sell, which can in turn impact market price and sentiment. The individual who is selling is one of many who became an Ethereum millionaire after buying tokens in the 2014 ICO, where ETH was sold at an average price of $0.31 per coin.
August 2025, Cryptoniteuae
