TLDR
- An original Ethereum ICO wallet, which had been dormant for eight years, transferred 1,500 ETH, worth approximately $6 million, to the Kraken exchange.
- The wallet originally received 20,000 ETH at Genesis for $6,200 and now holds a 12,971x return on investment.
- The participant still retains 18,500 ETH valued at $80.42 million despite the partial liquidation.
- The Ethereum ICO took place in July 2014 with early investors paying approximately $0.30 per token.
- Bitmine acquired 27,316 ETH, worth $113 million, and now holds 3.34 million ETH, valued at roughly $13.3 billion.
An original Ethereum ICO wallet transferred 1,500 ETH, worth approximately $6 million, to the Kraken exchange after eight years of inactivity. The wallet still holds 18,500 ETH valued at $80.42 million, representing a 12,971x return on investment. This rare movement from an early participant highlights profit-taking behavior while maintaining long-term holdings.
Original Ethereum ICO Wallet Becomes Active
A wallet from the 2014 Ethereum ICO moved funds for the first time in nearly eight years. The participant sent 1,500 ETH to Kraken, valued at approximately $6 million at current prices. Onchain data confirmed the wallet originally received 20,000 ETH at Genesis for $6,200.
An #Ethereum ICO participant just woke up after nearly 8 years of dormancy, depositing 1,500 $ETH($6M) to #Kraken for the first time.
This OG (0x3690) received 20,000 $ETH at genesis, with a purchase cost of $6.2K, now worth $80.42M — a 12,971x return.https://t.co/zf7x45sZN5… pic.twitter.com/tHm6iVxQd2
— Lookonchain (@lookonchain) October 29, 2025
The Ethereum ICO took place in July 2014 with early investors paying about $0.30 per token. Participants received 2,000 ETH per BTC during the presale period. Over 60 million ETH were distributed, raising more than $18 million for the project.
The genesis block launched on July 30, 2015, marking the start of Ethereum’s blockchain network. The wallet’s remaining 18,500 ETH suggests continued confidence despite the partial liquidation. This transaction marks one of few instances where an original Ethereum ICO participant moved substantial funds.
Institutional Accumulation Continues With Bitmine Purchase
Bitmine acquired 27,316 ETH worth $113 million in a recent transaction. The company now holds 3.34 million ETH valued at roughly $13.3 billion total. Tom Lee, who founded Fundstrat in 2024, chairs Bitmine Immersion Technologies since June 2025.
Bitmine’s holdings grew to $13 billion in just months, making it the largest publicly traded Ethereum treasury company. The firm now controls close to 1% of Ethereum’s total supply through consistent buying. Pantera Capital research indicates institutional capital is moving on-chain with Ethereum as a preferred choice.
Lee compared Ethereum’s position to Bitcoin in 2017, noting rapid institutional adoption in the ecosystem. The company’s strategy demonstrates strong belief in Ethereum’s role in decentralized finance infrastructure. Consistent purchases signal long-term commitment rather than speculative positioning.
Tom Lee(@fundstrat)'s #Bitmine just bought another 27,316 $ETH($113M) and currently holds 3.34M $ETH($13.3B).https://t.co/STJqKkdLMxhttps://t.co/EWFNQ8CMI9 pic.twitter.com/LjydR5CXVp
— Lookonchain (@lookonchain) October 29, 2025
Contrasting Whale Activity Shows Market Division
One trader bought 8,240 ETH and 6,000 ETH at market bottoms with precise timing. The trader earned approximately $29 million, translating to a 150% gain through strategic entries and exits. This performance came from buying at exact lows and selling at subsequent peaks.
However, another whale has taken aggressive short positions against ETH despite institutional buying activity. This opposing behavior reveals contrasting outlooks on Ethereum’s near-term price trajectory. Large wallets continue making divergent moves as market sentiment remains split.
Ethereum currently trades around $4,001 with a market cap of $482 billion. The 24-hour trading volume stands at $35.5 billion across exchanges. The original Ethereum ICO participant’s movement adds to ongoing discussions about holder behavior and market positioning.
