The Whale Who Bought Ethereum at 8 Dollars Woke Up from Sleep, Started Selling: Still Has Some Left! - Coin Bulletin

In 2016, a whale that bought Ethereum for just 8 dollars per (ETH) sold a large portion of its assets 9 years later. The total value of the sale was 22 million dollars.

According to on-chain data, an anonymous wallet owner, who is one of the early investors in Ethereum, sold the ETH he acquired for about 8 dollars in 2016, years later obtaining 22 million dollars worth of USDC in a 15-hour process. The mentioned whale liquidated 14,015 ETH through the decentralized exchange Uniswap with this sale.

This investor has previously attracted attention for selling at market lows in a similar manner. The whale that sold 6,630 ETH in 2022 and 4,035 ETH in 2023 saw the decline that followed Ethereum's peak of $4,000 reached in December 2024 as an opportunity. After the sale, the whale left only 521 ETH in the wallet; the current value of this amount is approximately $830,000.

Not always at the top, sold at the bottom.

The behavior of the whale shows that, unlike many long-term investors in the market, it has not adopted the "sell and exit" strategy. Interestingly, while the price of Ethereum was above $4,000, the whale did not sell, but rather offloaded its assets as the market declined. In the last sale, the average ETH price was around $1,576.

Ethereum has recovered after this sell-off, gaining 8.2% in value in the last 24 hours. The price is currently trading around 1,598 dollars. Following U.S. President Donald Trump's decision to delay tariffs for 90 days, there is a general sense of optimism in the crypto markets. This has also contributed to Ethereum's rise.