Mysterious Early ETH Holder Deposits Over $40 Million to Coinbase, Largest Move in Three Years

Rare Move from ETH OG

On-chain data shows that an Ethereum address dating back to 2016 has reactivated after a three-year dormancy. Recently, it transferred 14,183 ETH to Coinbase, with a total value of $41.93 million at current prices.

First Major Move in Three Years

This transfer marks the first time the address has moved a significant amount of ETH in three years. Analysts have noted that the movement could signal shifting strategies from a long-term holder.

Historical Activity

• First recorded transaction dates back to 2016
• Last accumulation happened on February 11, 2022
• The withdrawal average price at that time was $1,236.65

While the identity of the wallet remains unknown, its long-term holding pattern suggests it could belong to an early investor or developer connected to the Ethereum ecosystem.