On-chain data from earlier today indicated that another ETH holder from the project’s initial days has taken profits after nearly a decade of holding, turning a relatively modest investment of $56,000 into more than $7 million.
The transaction follows several recent moves by some of the oldest wallets in the crypto industry, including ETH addresses dormant for approximately a decade.
Lookonchain noted on Friday that an Ethereum OG sold 3,000 tokens worth over $7.2 million. The unknown investor acquired the funds nine years ago ar under $19 apiece, meaning the position generated a return of nearly 130x.
An #EthereumOG who bought 3,000 $ETH($7.23M now) at only $18.83 nine years ago sold today, making a 128x return!
https://t.co/tUMi07RLsy https://t.co/jG32qwjdQk
— Lookonchain (@lookonchain) October 23, 2026
Earlier this month, another early ETH holder deposited 6,369 ETH worth about $16 million to Kraken after accumulating the stash at $14 each. An Ethereum ICO participant, on the other hand, moved 13,330 ETH (worth well over $36 million) to Coinbase during October as well. The wallet originally obtained 170,000 during the 2015 ICO at $0.31 per token.
These transfers come in a rather interesting time for the underlying asset. Ethereum’s token soared from under $2,000 to $2,800 in a few months before its ascent was stopped. It slipped to $2,300 during the most recent market-wide pullback, before recovering to $2,400 as of press time.
More on the OGs moving out: Back in August, another ICO investor transferred all 2,000 tokens, worth $3.77 million at the time, to Coinbase, roughly 11 years after buying the tokens for just $622. This translated into an increase of more than 6,000x.
The post Why Are OG Crypto Whales Cashing Out? Early ETH Holders Move Millions appeared first on CryptoPotato.
 Some of the earliest investors in ETH appear to have been taking money off the table lately. Crypto Bits, Crypto News, Bitcoin (BTC) Price, ETH, WhaleÂ
This articles is written by : Nermeen Nabil Khear Abdelmalak
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