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Why Are OG Crypto Whales Cashing Out? Early ETH Holders Move Millions

Why Are OG Crypto Whales Cashing Out? Early ETH Holders Move Millions


Some of the earliest investors in ETH appear to have been taking money off the table lately.

On-chain data from earlier today indicated that another ETH holder from the project’s initial days has taken profits after nearly a decade of holding, turning a relatively modest investment of $56,000 into more than $7 million.

The transaction follows several recent moves by some of the oldest wallets in the crypto industry, including ETH addresses dormant for approximately a decade.

Lookonchain noted on Friday that an Ethereum OG sold 3,000 tokens worth over $7.2 million. The unknown investor acquired the funds nine years ago ar under $19 apiece, meaning the position generated…

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