Ethereum: ICO whale moves 5,000 ETH after 11 years of silence

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The story begins with the public sale of Ethereum in 2014 during which participants bought their future ETH against bitcoins. Tokens became transferable when the network launched on July 30, 2015.

For this investor, EmberCN retains an acquisition price of approximately $0.311 per ETH. The 100,000 tokens received therefore represented a stake close to $31,100.

According to the analyst's reconstruction, the holder sold half of his position in 2016, at a price of around $5.47 per ETH. The 50,000 tokens would have brought in $273,500, or almost nine times the total initial investment. On this half alone, the sale price represented approximately 17.6 times the purchase price.

These amounts remain those of the published analysis: a transfer to a platform does not, in itself, allow us to verify the price at which the funds were subsequently sold.

The rest of the position was held over a long period. However, it is necessary to distinguish detention and absolute immobility: the history provided mentions a move to a linked address in 2017.

The movements of October 26 relate to 10% of the 50,000 ETH retained after the 2016 operation. Of the 5,000 ETH transferred, 1,500 joined centralized platforms. The other 3,500 were sent to other addresses, with no economic destination established in the available information.

A deposit on an exchange can prepare for a sale, but also serve to constitute collateral or manage a position. No recent sales are confirmed by the transfers observed alone. Likewise, moving tokens to a new address does not necessarily mean changing ownership.

The monitored wallet thus retains 45,000 ETH. At the indicative price of $2,300 used to value the deposits, this balance represents $103.5 million. It corresponds to 90% of the stock held before these movements, but to 45% of the initial 100,000 ETH.

The interest in this activity is mainly due to the seniority of the position and its low acquisition cost. The transfers are neither sufficient to establish a complete disengagement of this investor, nor to explain a variation in the market. For now, the data shows a partial mobilization of funds, while most of the balance previously kept remains in the monitored portfolio.

With a background in literature and languages, I like to combine rigorous analysis with a taste for ideas to decipher the major economic and (geo)political issues linked to cryptocurrencies. Since 2021, I have been writing for Journal du Coin where I focus on subjects such as Bitcoin, MNBC, the tokenization of RWA and more broadly the strategic mutations of Web3. A passionate reader, curious about the world and the power relationships that structure it, I strive to make these themes accessible to all, with particular attention to projects designed for the general public.

Machine-translated from French