From $6,200 to Millions: How an Ethereum ICO Whale Mastered the Art of Timed Exits

A prescient Ethereum ICO participant turned a modest $6,200 investment into a multi-million dollar windfall—proving once again that crypto’s early adopters play by different rules.

The patience payoff

While Wall Street hedgies were still shorting Bitcoin, this anonymous trader held through multiple market cycles—then nailed the exits with Swiss-watch precision. No VC connections, no algorithmic edge—just ruthless timing.

When diamond hands meet profit-taking

The playbook? Buy when gas was cheap (literally), ignore 90% drawdowns, and sell when mainstream media starts breathlessly reporting ‘ETH to $10K’ predictions. Rinse, repeat.

The cynical take

Meanwhile, your financial advisor still thinks ‘blockchain’ is that thing you use to lock your Schwab account. Some games are rigged—just not the way regulators assume.

$0.000071 investor who took part in the initial coin offering (ICO) has recently sold 2,300 ETH, netting approximately $9.9 million. The sale occurred early on Monday morning and was recorded by blockchain analysis provider Lookonchain. The investor’s address, “0x845…a210c,” transferred the coins to the Kraken exchange, leaving behind a balance of 1,623 ETH. During the ICO period, the investor acquired 20,000 ETH for $6,200, which today values approximately $86 million. Ethereum’s price recently surged past $4,300, reaching its highest levels since December 2021, marking a 2% increase in the past 24 hours.

ContentsDetails of the 2,300 ETH SaleEthereum’s Initial Coin Offering: The Early Days

Details of the 2,300 ETH Sale

According to blockchain data shared by Lookonchain, the address transferred 2,300 ETH to Kraken on Monday, valued at $9.9 million. Following the transaction, 1,623 ETH remained in the address. This address has also been noted for making similar sales in the past.

Historical records reveal that this address sold 3,000 ETH in November 2023, 1,000 ETH in February 2024, and 250 ETH in December 2024. The consistent and periodic nature of these transactions indicates a strategy involving limited sales over time.

Ethereum’s Initial Coin Offering: The Early Days

Ethereum’s ICO took place from July 22 to September 2, 2014. Over 60 million ETH were sold at an average price of $0.31, raising about $18.3 million or 31,531 BTC. Initially, 2,000 ETH were exchanged for 1 BTC, later reduced to 1,337 ETH for 1 BTC. The network launched in July 2015 with a genesis supply of 72 million ETH, 83% of which was allocated to ICO investors.

Today’s price levels result in gains exceeding 12,000 times for early investors. The tracked address by Lookonchain acquired 20,000 ETH for $6,200, with the remaining balance now worth around $86 million. According to CryptoAppsy data, ETH trades slightly below $4,300, at $4,288 at the time of this report.

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