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

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.