Ethereum Investor Exits After Nine Years, Cashes Out $22 Million in ETH
An Ethereum investor who has held onto their assets for nearly a decade has decided to sell off a significant portion of their holdings.
The investor unloaded 14,015 ETH, worth $22 million, at a time when the cryptocurrency has fallen to its lowest point in two years.
This particular investor, who initially acquired the Ethereum in 2016 for roughly $8 per token, sold the entire amount over a 15-hour window on the decentralized platform Uniswap, swapping the ETH for $22 million in USDC, a stablecoin pegged to the U.S. dollar.
A Pattern of Selling During Market Declines
This isn’t the first instance of such a large sale during a downturn. On-chain data reveals the same wallet previously offloaded:
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6,630 ETH in May 2022
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4,035 ETH in June 2023
Both of these sales took place amid significant market corrections, and this most recent sale aligns with a similar trend. Ethereum’s price has dropped sharply from its December high of $4,000, now hovering around $1,412.
READ MORE: Pakistan Explores Bitcoin and AI to Leverage Surplus Power for Economic Growth
Despite this hefty sell-off, the wallet still holds 521 ETH, worth roughly $830,000 at current prices.
ETH Sees a Positive Shift in the Market
Ethereum’s price has shown signs of recovery, trading at $1,600—an 8% increase in the past 24 hours. This resurgence coincides with growing optimism in the broader crypto market, fueled by U.S. President Donald Trump’s announcement of a 90-day pause on new tariffs for over 75 countries. This move has reignited confidence in risk assets, contributing to a broad market rally.
In addition to the price increase, Ethereum’s trading volume surged by 25% in the last day, reaching $33 billion, as investors returned to the market.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
