A significant wave of profit-taking by early Ethereum investors has been observed this week, with two major transactions totaling over $38 million in ETH sales. According to on-chain data from Lookonchain, an Ethereum ICO participant sold 11,552 ETH worth approximately $23.4 million on Thursday, March 26, 2026. The transactions were executed at an average price of around $2,027 per ETH.
The wallet address "0xd64A…7ED7" was identified as belonging to an investor who participated in Ethereum's initial coin offering about a decade ago. This investor originally spent just $12,000 to acquire 38,800 ETH at $0.31 per token during the ICO. At current prices, this initial investment would be worth nearly $80 million, representing one of the most successful early crypto investments in history.
This sale follows another major transaction earlier in the week, where a separate ICO-era wallet sold approximately 15,002 ETH worth roughly $31 million after holding for a decade. That wallet transferred funds to Coinbase while still retaining a significant balance.
In a parallel development, another long-term Ethereum holder, described as an "Ethereum OG," unstaked and sold 7,302 ETH worth $15.14 million within a two-hour window. This wallet had initially deposited 6,442 ETH into Lido's liquid staking protocol about four years ago when ETH was trading around $1,522. Through staking rewards via Lido, the holder earned an additional 860 ETH, bringing their total holdings to 7,302 ETH before the sale at an average price of $2,073.
The total profit from this staking wallet reached $5.33 million, combining both price appreciation from the initial $9.8 million investment and staking rewards worth approximately $1.78 million at current prices.
On-chain analytics firm Lookonchain reported both transactions, noting that the recent activity represents a pattern of long-term holders taking profits after years of accumulation. The data shows a sharp spike in Ethereum whale transactions, jumping from 123 on March 21 to 2,055 on March 24—an increase of over 1,500%—before cooling off to around 239 transactions more recently.
Ether's price has declined 2.6% over the past 24 hours to $2,058 as of early Friday, March 27, 2026, and remains more than 50% below its August 2025 peak of approximately $4,900. The sales occurred while Ethereum traded within the $2,000-$2,100 range, a level that has seen consistent buying and selling activity in recent sessions.
