This Ethereum Wallet Takes Profit as Initial $43k Investment Turns $389 Million
An unidentified Ethereum ICO Participant see huge surge of $389M profit in $46k investment after 2 years of dormancy
An Ethereum (ETH) ICO participant, who received a staggering 150,000 ETH during the Genesis Initial Coin Offering in 2014, has deposited 3,510 ETH, worth approximately $9.12 million, into the Kraken cryptocurrency exchange.
Additionally, the transaction, after a dormancy of over two years, signifies a significant reawakening of a long-forgotten fortune. The participant’s purchase price during the ICO, a mere $46,500, stands in stark contrast to the current valuation of their holdings, now estimated at a staggering $389.7 million.
Ethereum Investor Insight Rake Massive Profit
While the 150,000 ETH allocation is a significant sum, it is not unusual for early Ethereum investors to hold such substantial amounts. The Genesis ICO, a pivotal moment in the history of cryptocurrency, attracted a substantial community of believers, who eagerly participated in the project.
The recent deposit of 3,510 ETH, a mere 2.3% of the total holding, raises several intriguing questions. Is this a strategic move to diversify assets or a preparation for a planned sale? The individual’s intentions remain unknown.
The ETH holder, whose identity remains undisclosed, received a staggering 150,000 ETH during the Genesis ICO. Moreover, this allocation, while significant, was not an outlier.
Notably, many participants in the ICO received a similar amount, highlighting the early adoption and widespread enthusiasm surrounding the Ethereum project.
A Whale Awakens Takes Profit at 446x Gains After 8 Years.
On September 16, 2024, a dormant whale who bought 16,636 Ethereum (ETH) in February 2016 at $5.23 per ETH woke up to take profits at a 446x gain. According to @EmberCN on X, a Chinese crypto data account, the whale has sold 350 ETH at $2,340, signifying a significant 446x increase in value.
The tokens were acquired at $5.23 each, resulting in a total investment of $87,006. The transaction was executed through ShapeShift, a cryptocurrency exchange, marking a significant investment and highlighting the growing power of the Ethereum blockchain.
The Ethereum investor held onto their ETH for over eight years, showing remarkable patience and foresight. On September 16, 2024, they started selling a portion of their holdings, offloading 350 ETH at $2,340 per token. This sale generated a substantial profit of $819,000, nearly ten times their initial capital.
