Early Ethereum ICO participants who remained dormant have recently attracted media attention through major ETH sales. On April 17, 2025, the dormant Ethereum address was manipulated as it retracted 30,000 ETH, worth $47.85 million from refrigerated storage. The whale revitalization on April 17 marks the onset of continuous strategic unloading of assets, which will be extended until May.
Ethereum ICO participants again sold $5,200 ETH ($9.54m) in the past hour again.
Since finishing his long dormant on April 17, he has sold $21,700 (38.9m) at an average price of $1,792, and $8,300 eth ($15.28m).https://t.co/5xfxdgm7v8 pic.twitter.com/uslrysfq1r
– lookonchain (@lookonchain) May 7, 2025
April 17th: Dormant wallet awakens
On April 17, blockchain analytics firm LookonChain discovered the movement of 30,000 ETH Ethereum ICO whales after three years of inactivity. Address 0x9269…5FF ran three separate transactions, offering 16,000 ETH and ultimately 6,000 ETH, according to Etherscan Records. The wallet also transferred 3,000 ETH to Kraken Exchange after sending the remaining funds (3,000 ETH) to the exchange.
Crypto lovers were interested after discovering that ICO participants won 76,000 ETH during the Ethereum crowdsale and only paid $23,560 for this purchase, which is $0.31 per token.
May 4: Continuous sales push to a total of 16,500 ETH
By May 4th, Lookonchain observed that the whales had completed the sale of 16,500 units of ETH. The Ethereum market made price motions between $1,816 and $1,845, according to Coingecko data during that period. Recent price chart data included a number of red markers indicating 3,000 ETH sales during the transition from late April to early May, appearing to divide the mass into smaller, manageable parts.
A total of 13,500 ETH remained in the wallet, with current values exceeding $24.8 million over that period.
May 7: More ETHs will be offloaded and holds will be reduced even further
As of May 7, the Ethereum ICO participants had moved another 5,200 ETHs to Kraken, with 2,700 and 2,500 ETHs of 2,700 and 2,500 ETHs, according to validated on-chain data. ETH sales since April 17th have reached 21,700 units worth $308.9 million through the latest deal.
On May 7th, the whale's ETH assets comprised 8,300 ETH, which used the general market price of the ETH to hold its current value of $15.28 million.
Impact on the Ethereum market
Important sales activities were unable to move due to the consistent market value of Ethereum. The diversification method that Ethereum ICO whales performed sales demonstrates an intentional way to avoid short-term market impacts and prevent chaotic price drops. The strategic approach, along with a positive market outlook, served as a buffer to absorb sales pressure.
This case illustrates the massive benefits of early Ethereum ICO employers, earned through the $121 million Ethereum investment that began at just $24,000 when ETH was purchased.
