An early Ethereum investor, identified by the wallet address 0xd64A, has sold a significant portion of their holdings, cashing out approximately $23.4 million. According to on-chain analytics provider Lookonchain, the investor sold 11,552 ETH over the past hour at an average price of $2,027 per coin.
The sale represents a monumental return on investment from Ethereum's 2014 initial coin offering (ICO). The wallet originally purchased 38,800 ETH for just $12,000 during the ICO, equating to a purchase price of roughly $0.31 per token. At current market prices, the investor's remaining holdings are still worth around $79.5 million, showcasing one of the most successful long-term holds in cryptocurrency history.
This transaction is part of a broader trend of increased selling activity from long-term Ethereum holders. Earlier in the week, another dormant ICO-era wallet sold 15,002 ETH, worth approximately $31 million. These wallets, which have remained inactive for years through multiple market cycles, are now beginning to realize profits.
The sales come as Ethereum's price hovers around $2,058, marking a 2.6% decline over 24 hours and remaining more than 50% below its August 2025 all-time high near $4,900. The investors appear to be employing a staggered selling strategy to minimize market disruption, splitting large transactions to avoid triggering sharp price movements.
