TLDR An Ethereum ICO participant moved 10,000 ETH, worth about $22.9 million, after 10.8 years of inactivity. The investor originally bought the tokens for aboutTLDR An Ethereum ICO participant moved 10,000 ETH, worth about $22.9 million, after 10.8 years of inactivity. The investor originally bought the tokens for about

Ethereum Whales Shift Millions as ETH Hits $2,330

2026/04/29 19:13
3 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

TLDR

  • An Ethereum ICO participant moved 10,000 ETH, worth about $22.9 million, after 10.8 years of inactivity.
  • The investor originally bought the tokens for about $3,100 during Ethereum’s 2014 ICO.
  • On-chain tracker Lookonchain flagged the transfer from wallet “0xCD59” to a new address.
  • A wallet linked to Fenbushi Capital withdrew 3,063 ETH from Aave and sent the funds to Binance.
  • The transfer to Binance came after Ethereum rose from about $2,017 to nearly $2,330.

Large Ethereum holders shifted millions of dollars in tokens as dormant and active wallets executed fresh transfers. On-chain data showed an early ICO participant moving 10,000 ETH after 10.8 years of inactivity. At the same time, venture capital and institutional entities repositioned holdings as prices hovered near $2,330.

Ethereum Whales Reactivate Dormant and Active Wallets

An Ethereum ICO participant moved 10,000 ETH worth about $22.9 million, to a new address. Lookonchain flagged the transfer from wallet “0xCD59” after 10.8 years of inactivity.

Ethereum Whales Shift Millions as ETH Hits $2,330

The investor bought the tokens in 2014 for about $3,100 during Ethereum’s ICO. The current valuation represents a return of more than 7,000x on the initial purchase. However, the transfer did not confirm a sale but showed a full balance shift.

Such long-held tokens rarely move, so blockchain trackers recorded the activity immediately. Market observers often link fresh wallet transfers with potential portfolio adjustments. Still, the address has not sent funds to an exchange.

Separately, a wallet tied to Fenbushi Capital withdrew 3,063 ETH from Aave. The wallet then transferred the assets, worth about $7.1 million, to Binance.

The same wallet had received the Ethereum from Binance about one month earlier. At that time, ETH traded near $2,017 per token. With ETH around $2,330, the unrealized gain stood near $969,000.

Transfers from DeFi platforms to centralized exchanges often precede liquidity actions. Traders typically move funds to exchanges before converting assets or locking in profits. One X user reacted to the activity and wrote, “Dump dump dump.”

Bitmine Expands Accumulation and Staking Strategy

Tom Lee’s Bitmine continued to accumulate Ethereum through over-the-counter trades. Lookonchain reported that Bitmine acquired 45,000 ETH, worth about $103.5 million.

FalconX and BitGo facilitated the OTC transactions for the purchase. The acquisition formed part of Bitmine’s broader accumulation plan.

Bitmine has committed roughly 3.5 million ETH to staking so far. The staked amount carries an estimated value of about $8 billion at current prices.

The company said staking accounts for just over 70% of its total holdings. Staking allows holders to validate transactions and earn yield on locked tokens.

Lee previously stated that staking could generate a pre-tax return near 2.79%. He also said Ethereum may be at or near a cyclical bottom.

In March, Lee cited analysis from market technician Tom DeMark. He said Ethereum’s recent pattern resembles the 2011 U.S. debt ceiling crisis drawdown.

Lee stated, “If those analogues hold, ETH likely either bottomed in early March or is bottoming now.” Ethereum traded around $2,330 at the time of the latest transactions.

The post Ethereum Whales Shift Millions as ETH Hits $2,330 appeared first on CoinCentral.

Market Opportunity
Ethereum Logo
Ethereum Price(ETH)
$2,289.8
$2,289.8$2,289.8
+0.44%
USD
Ethereum (ETH) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

Roll the Dice & Win Up to 1 BTC

Roll the Dice & Win Up to 1 BTCRoll the Dice & Win Up to 1 BTC

Invite friends & share 500,000 USDT!