ICO Ethereum Whale Collective Awakens! 1 million Holdings movement, paper profit surges 1257964%

In the second half of this year, as the price of Ethereum approaches its historical high, many holders from the “ICO era” are “waking up” after years of silence. One ICO participant holds a total of 1 million ETH and transferred 150,000 ETH to a new wallet for staking in September, with an ICO cost of only 310,000 USD, now worth over 3.9 billion USD.

Age consumption index skyrocketed to 603 million, the second highest this year

According to the age consumption metric measured by the Santiment analysis platform Sanbase, the activity of long-term holders in September experienced the most significant two spikes since reaching a year-to-date high in July. This metric measures the total amount of Ether transferred between addresses, multiplied by the time since the last transfer. According to the description, the peaks indicate that a large amount of old Ether is being transferred.

The indicator shows that around September 6, it reached 502 million, and then by the end of September, it reached 603 million, which is the highest value this year, aside from the peak of approximately 804 million in July. The surge in this age consumption indicator is significant in the analysis of Ethereum whale behavior, as it not only reflects the quantity transferred but also the length of time these tokens have been held. A transfer from an address holding 10,000 ETH for 8 years is likely to draw more market attention than transfers from 100 addresses holding 100 ETH for 1 month each.

The surge in the age consumption indicator is often interpreted by the market as a potential selling pressure signal. When long-term holders choose to transfer tokens at this time, it often signifies that they believe the current price is close to or has reached their psychological target, preparing to take profits. However, this interpretation is not absolute, as token transfers may also be for staking, rebalancing, or merely wallet migration, and do not necessarily indicate immediate selling.

From a time point of view, the two spikes in September just happened during the period when Ethereum's price broke through key resistance levels. When the price rose from around $3,500 to near $4,000, many long-term holders might have thought it was a good time to take some profits. This behavior is extremely common in a bull market, where early investors usually adopt a strategy of selling in batches, locking in some profits while retaining part of their positions to participate in subsequent increases.

It is worth noting that the peak of 804 million in July is the highest value this year, during which the price of Ethereum reached a local high before experiencing a pullback. Although the 603 million in September was lower than July, it is still the second highest of the year, indicating that the activity of long-term holders remains high. If this trend continues into October and November, it may exert sustained selling pressure on the price of Ethereum.

ICO Giant Whale Transfers 1500 ETH for the First Time in 8 Years

According to Nansen, on October 29, a whale who acquired 20,000 Ether during the Ethereum ICO transferred 1,500 tokens to a cryptocurrency exchange after eight years of inactivity. When that address initially acquired these tokens, the price of 20,000 Ether was slightly above $6,000, but over the years, its value has significantly increased to over $78 million. The awakening of this Ethereum whale has sparked widespread attention in the market.

Transferring 1,500 ETH to a CEX is often interpreted as a signal of preparation for sale. Exchanges are the places with the most concentrated liquidity, and when whales transfer tokens to exchanges, it is very likely for the purpose of selling them in the market. Based on the current price of ETH at around $3,872, 1,500 ETH is worth approximately $5.8 million. Although this amount is not huge for the entire Ethereum market, its symbolic significance is substantial: an ICO participant who has held for 8 years beginning to take action may indicate that more early holders are about to follow.

What is even more concerning is the 18,500 ETH that this whale still holds. If he chooses to sell all, it would create a selling pressure of about 72 million dollars in the market. More importantly, if other Ethereum whales from the ICO era see this action and follow suit, the accumulated selling pressure could reach hundreds of millions or even billions of dollars. This “herd effect” is common in the crypto market, as the actions of a well-known whale often trigger a chain reaction among other whales.

However, there is also another possible interpretation. The whale may have only partially taken profits, transferring 1,500 ETH to the exchange to lock in some profits while retaining the majority of their position (18,500 ETH) to continue holding. This batch selling strategy is extremely common among large holders, allowing for risk management while not missing out on subsequent price increases. Given the ratio of 1,500 to 18,500, this whale has only sold about 7.5% of their holdings, indicating that they still maintain confidence in Ethereum's long-term prospects.

1 million ETH super whale starts staking transfer

Another Ethereum ICO participant received a total of 1 million Ether in three phases (200,000, 300,000, and 500,000) during the early days of the ecosystem, and deposited them into three different Wallets. In September, he also began taking action to transfer 150,000 Ether to a new Wallet for staking. This whale spent a total of 310,000 USD in the ICO to acquire Ether, and the value of these Ethers has since grown to over 3.9 billion USD.

This wealth growth from 310,000 USD to 3.9 billion USD is the ultimate embodiment of the cryptocurrency wealth creation myth. A return rate of over 12,500 times means that this ICO participant became a billionaire with just a 310,000 USD investment. This extraordinary return for early investors is also one of the key reasons why the crypto market attracts new investors. Every newcomer hopes to find the next similar opportunity, although such opportunities are extremely rare in reality.

Unlike the first whale transferring directly to the exchange, this super whale chose to transfer 150,000 ETH to a new Wallet for staking. This is a clear bullish signal, as staking implies long-term holding. Ethereum staking requires locking up tokens, and although they can be unstaked at any time after the merge, there is still a wait for the withdrawal queue. The choice to stake shows that this whale does not intend to sell the 150,000 ETH in the short term, but instead hopes to earn additional returns through staking.

The annualized return on Ethereum staking is approximately 3% to 4%. For a whale holding 150,000 ETH, this translates to an annual staking reward of about 4,500 to 6,000 ETH, which, at current prices, amounts to approximately 17 million to 23 million dollars. This stable cash flow income is highly attractive to ultra-high-net-worth individuals as it provides passive income without the need to sell principal to maintain their lifestyle.

ICO Era Ethereum Whale Dynamics Tracking:

Giant Whale A: Holds 20,000 ETH | First transfer of 1,500 ETH to CEX after 8 years | Suspected of preparing to sell

Giant Whale B: Holds 1 million ETH | Transferred 150,000 ETH for staking in September | Clear long-term holding signal

Small holder: Holds 158 ETH | First transfer of 0.001 ETH in 10 years for testing | May be preparing for large transactions

Wealth Growth: ICO cost $310,000 → current value $3.9 billion | Return rate 12,500 times

This super whale still holds about 850,000 ETH untouched, worth over 3.3 billion dollars. These tokens are spread across three different Wallets, showing its risk management awareness. If these 850,000 ETH start to move in the coming months, whether by stake or sale, it will have a significant impact on the Ethereum market. Market participants should closely monitor the on-chain activity of these addresses.

Significance of the First Test Transaction for Small Holders in 10 Years

At the same time, a holder of much smaller amounts of Ether conducted the first transaction in ten years in August, sending 0.001 Ether as a test transaction. Unlike the whales, this holder purchased 158 Ether at the price of $49 during the early issuance of Ether. Although the holding is far smaller than the previous two whales, the timing of the first transfer in ten years is equally noteworthy.

Test transactions are a common practice in the cryptocurrency field. Users typically send a very small amount to test whether the wallet address is correct and whether the network is functioning properly before making large transfers. This holder sent 0.001 ETH as a test, which likely means he is preparing to transfer all or most of his 158 ETH. At the current price, 158 ETH is worth approximately 610,000 USD, which is a considerable amount of wealth for individual investors.

From $49 to $610,000, this small holder achieved a return of about 12,400 times. Although the absolute amount is not at the billionaire-level of whales, the relative return rate is almost the same, both exceeding 12,000 times. This proves that during the ICO era, regardless of the size of the investment amount, as long as there is the courage to participate and hold long-term, one can achieve astonishing returns. This case holds significant implications for current crypto investors: finding early quality projects and holding them long-term remains one of the most effective strategies for wealth growth.

The first transfer in 10 years also suggests that this holder may be considering exiting or adjusting their position. Holding for 10 years means experiencing multiple complete cycles, including the 2018 bear market, the 2020 DeFi summer, the 2021 bull market, and the 2022 bear market, yet still choosing to hold. Now choosing to transfer may indicate that they believe the current price has reached or is close to the cycle peak, making it the best time to achieve financial freedom.

From a market impact perspective, although the scale of 158 ETH is small and will not directly affect the market, its symbolic significance cannot be ignored. When even small holders begin to transfer tokens for the first time in 10 years, it indicates that the market may be in a profit-taking phase. If this trend spreads to more long-term holders, the cumulative effect could put pressure on the price of Ethereum.