An Ethereum OG Who Bought at $18 Just Cashed out $7.23 Million

An early ether buyer who paid just $18.83 per coin nine years ago has sold 3,000 ETH worth about $7.23 million, a 128x return. The math on this trade seems almost absurd, with onchain data from the wallet’s Arkham explorer page showing 3,000 ETH leaving a Gemini hot wallet roughly nine years ago, worth about $56,480 at the time. That works out to $18.83 per ether. The coins passed subsequently through two intermediate wallets and then sat untouched for eight years, and on Oct. 22, the full 3,000 ETH finally moved to a Kraken deposit address. Lookonchain valued the stack at $7.23 million , which puts ether near $2,410 and the return at 128x.

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