According to fresh on-chain data from Lookonchain, an enigmatic early participant in the Ethereum ecosystem is actively reshaping their holdings. In just the past two days, this address has moved 40,251 ETH—valued at approximately $124 million—to Bitstamp, signaling renewed selling pressure from long-term investors.
Long-Term Holder Cashes Out
This whale originally acquired 154,076 ETH at an average cost of just $517 per coin, positioning them as one of Ethereum’s earliest and most significant holders. Over recent months, they've steadily offloaded portions of their stash, drawing attention from analysts and traders alike.
- Recent transfer exceeds 40k ETH
- Over 120k ETH sold cumulatively
- Holds 26,000 ETH remaining, worth ~$80.15M
Market Implications Ahead
Large-scale movements like these often precede volatility. While the holder hasn't fully exited, repeated deposits to exchanges suggest continued sell-side pressure may be on the horizon. Traders should monitor upcoming price action closely, especially as sentiment reacts to visible on-chain shifts.