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An early Ethereum ICO participant moved another $5.1 million in ETH to Kraken.
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This follows $19 million in ETH deposits earlier this week.
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The whale still holds over 50,000 ETH across multiple wallets.
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Other ICO participants have also been selling as ETH nears record highs.
A Week of Large ETH Sales
An Ethereum ICO whale transferred 1,060 ETH, worth $5.1 million, to a Kraken deposit address on Thursday, according to onchain data. This marks the fourth consecutive day of sales, following $8.6 million on Monday, and over $10 million combined on Tuesday and Wednesday. In total, about $24.1 million in ETH has been moved to the exchange this week.
The wallet, which initially received 100,000 ETH for $31,100 during the 2014 ICO, still holds over 50,000 ETH spread across multiple addresses, worth nearly half a billion dollars at current prices.
Multiple ICO Whales Taking Profits
This address is not alone. Another early Ethereum participant sent $9.9 million in ETH to Kraken earlier this week. That wallet, which originally bought 20,000 ETH for just $6,200, still retains $7.6 million worth of ETH.
ETH Price Nears 2021 Peak
Ethereum is currently trading around $4,718, only 3% away from its all-time high of $4,868 reached in November 2021. The sales by early investors may be an attempt to lock in gains as prices climb.
