Ethereum ICO participant sells 2,300 ETH worth $9.9 million, onchain data shows

An Ethereum initial coin offering participant has sold 2,300 ETH, worth about $9.9 million, early Monday morning, onchain data shows.

Onchain data analytics provider Lookonchain reported Monday that the address "0x845…a210c" transferred 2,300 ETH to Kraken, leaving the address with 1,623 ETH remaining.

The Ethereum ICO whale originally received 20,000 ETH for $6,200, which is now valued at around $86 million, according to Lookonchain.

In addition to Monday's transfer, the address made several previous outbound transfers: 250 ETH in December 2024, 1,000 ETH in February 2024, and 3,000 ETH in late November 2023, among others.

Ethereum climbed 1.64% in the past 24 hours to trade above $4,300 at the time of writing, reaching its highest levels since December 2021, according to The Block's Ethereum price page.

The Ethereum ICO, held from July 22 to September 2, 2014, raised about $18.3 million by selling over 60 million ETH tokens at an average price of $0.31 per ETH, with 1 BTC initially buying 2,000 ETH and later 1,337 ETH due to price adjustments.

The funds, equivalent to 31,531 BTC, supported the development of Ethereum, which launched in July 2015 with a total initial supply of 72 million ETH, 83% of which went to ICO investors.

This ICO, accessible globally without investor restrictions, yielded an ROI of more than 12,000-fold for early investors, based on Ethereum's current price.