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It’s been a turbulent week on-chain, with those long-dormant ICO veterans suddenly dumping their holdings en masse.
Here’s a wild one—a prehistoric-level ETH whale (the kind who got 254,900 ETH from the original ICO) just made a move seven days ago, and this week apparently dumped another 3,000 ETH, worth $8.4 million. This guy doesn’t mess around; over the past week he’s sent 23,000 ETH to exchanges, which would cash out to $66.53 million if he sells it all.
What’s the craziest part? His cost basis was only $0.31 per ETH. Now his on-chain account is down to scraps—just 69.83 ETH left, worth over $190,000. That’s basically a total exit.
Looks like it’s not just retail investors waiting and watching—even early whales are reallocating their chips. The market signal is getting a bit subtle.