Why Are OG Crypto Whales Cashing Out? Early ETH Holders Move Millions
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On-chain data from earlier today indicated that another ETH holder from the project’s initial days has taken profits after nearly a decade of holding, turning a relatively modest investment of $56,000 into more than $7 million. The transaction follows several recent moves by some of the oldest wallets in the crypto industry, including ETH addresses dormant for approximately a decade. Lookonchain noted on Friday that an Ethereum OG sold 3,000 tokens worth over $7.2 million. The unknown investor acquired the funds nine years ago ar under $19 apiece, meaning the position generated a return of nearly 130x. An #EthereumOG who bought 3,000 $ETH($7.23M now) at only $18.83 nine years ago sold today, making a 128x return!
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