Ethereum Investor Reaps 446x Return After 8.5 Years

An early Ethereum investor has cashed out a portion of their holdings after nearly 8.5 years, making a substantial profit.

The investor, who originally received 16,636 ETH from ShapeShift back in February 2016 when the price of Ethereum was just $5.23 per token, saw their initial investment of $87,135 skyrocket in value.

Fast forward to today, and that same holding is now worth over $37.6 million, marking a 446x return on their investment. The whale recently transferred their entire ETH stash to a new address, from which they sold 350 ETH at a price of $2,340 each.

This isn’t the first time large, dormant Ethereum wallets have resurfaced. On July 30, 2024, another long-term holder moved 1,111 ETH after nine years of inactivity, and earlier that same month, Whale Alert flagged another dormant wallet activation involving 977 ETH.

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Despite a recent market dip, with Ethereum trading at $2,260, most ETH holders are still in profit. Data from IntoTheBlock indicates that 54% of holders are in the green, while 39% are at a loss and 7% remain neutral. Interestingly, 74% of ETH holders have held their assets for over a year, showing long-term confidence in the cryptocurrency.

Alexander Zdravkov