Ethereum OG Releases 10,702 ETH Following Two Years of Dormancy
A long-time Ethereum holder has sold off a huge amount of ETH, ETH$1,593 , after two years of complete inactivity. The sale has stirred interest across the community based on its volume, timing, and long-held history tied to the wallet.
The Ethereum Whale Selloff is now popular.
The Ethereum OG whale recently offloaded 10,702 ETH, valued at around $16.86 million, according to data from Lookonchain. Since 2022, this wallet has lain idle. This most recent unload is noteworthy since it comes after another sizable dormant holding sold off its Ethereum this week.
As previously said, the original developer of the network, which dumped 10,702 ETH, initially purchased the cryptocurrency in 2016. One Ethereum was worth $8 at the moment. According to reports, the seller maintained their Ethereum holdings across several market cycles and price spikes, including when the cryptocurrency hit an all-time high of more than $4,000.
Despite the opportunity to pay out during peak times, the wallet owner never sold during those highs. Rather, their trend depends on selling when the market is down. With ETH selling at about $1,576 at the time of the dump, this most recent sale followed that pattern.
The Ethereum whale selloff is becoming worse, as has been observed recently. At $1,465 USD, a wallet associated with Trump-backed World Liberty Financial sold 5,471 Ethereum for $8.01 million.
These sales took place during a period when Ethereum is under a lot of strain, especially about Bitcoin’s performance. Ethereum fell to a multi-year low of 0.01855 BTC on Binance on April 9.
The price of ETH has dropped dramatically this year, despite a brief relief rally in the market thereafter. In 2025 alone, ETH is down 45% compared to Bitcoin. This includes a 25 percent loss in 2023 and a 34 percent drop in 2024.
It’s unclear why the wallet owner chose to sell at this time. The low ETH/BTC ratio and persistent bearish trend, however, might have affected the choice.
According to CoinMarketCap data, Ethereum OG was up 7.37% over the previous day at $1,590.82 at the time of writing.
Concerns Around Timing Spark Speculations
Many in the crypto space have expressed surprise at the timing of the current sale. Holding ETH from when it was $8 means the wallet could have made far more profit if it had sold during previous market cycles when Ethereum had better spot pricing.
Holding through price peaks and selling during corrections seems unusual to many traders.
The conversions regarding Ethereum’s price and current market position have increased as a result of this sale. While some investors interpret it as a warning sign, others believe it is the conduct of a single person and not always a representation of the general mood.
In any case, the action has demonstrated the unpredictability of cryptocurrency investor behavior, especially among early adopters.
After seven years, a long-dormant Ethereum OG whale has returned to the market by funding Kraken with 2,000 ETH, which is worth $3.11 million. This increased the likelihood of a selloff, as some opponents contend.
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