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:
-
6,630 ETH in May 2022
-
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 an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
