Here is how the wallet has behaved since, based on its transaction history:
- 2016: The original genesis address moved more than 100,000 $ETH out in August. The main wallet Lookonchain linked to the buyer received about 120,657 $ETH that December.
- Late 2017 to May 2018: The wallet sent out roughly 92,000 $ETH across the 2017 bull run and its aftermath.
- June to December 2018: About 73,000 $ETH flowed back in during the bear market.
- 2020 to 2021: Another wave of transfers, roughly 81,000 $ETH, as ether ran to record highs.
- 2023 to 2025: Smaller sales, mostly in batches of a few hundred to 2,500 $ETH.
- 2026: 106 $ETH on Sept. 30, then the 1,000 $ETH that went to Kraken on Oct. 23.
The main wallet still holds about 11,349 $ETH, worth roughly $27 million at current prices. The pattern doesn’t look like a panic move but more like someone who has been taking profits into strength for nearly a decade.
The OG’s Continue Their Exodus
Just twenty-four hours ago, Bitcoin.com News reported on an Ethereum OG who bought 3,000 $ETH at $18.83 nine years ago and cashed out $7.23 million, a 128x return. However, the sales come at an awkward moment for ether, given that the broader market is under pressure, with bitcoin’s price slipping below its 50-day moving average and $318 million in long positions liquidated in 24 hours.
Corporate demand may also be peaking, with Bitmine chair Tom Lee saying the company will stop buying once it owns 5% of $ETH supply.
That said, what makes these whale movements worth watching is who is selling because when several of these entities move at the same time, traders can read the transfers as early holders decifing the current range if good enough.
Ethereum developers have their own headaches, after delaying Glamsterdam testing over contract concerns, but for the time being, the 2014 buyer still has more than 11,000 $ETH left, and the market will be curious to see the next transfer to Kraken (or any other centralized venue).
