During the Ethereum ICO era, dealers are making large take profits, sending the equivalent of 3 billion yen to the exchange in one week.

## Whales are taking profit one after another in the ICO era.

It has been confirmed that a large investor who participated in the Ethereum ICO (initial coin offering) transferred an additional 1,060 ETH to the deposit address of the virtual currency exchange Kraken on Thursday. According to Arkham’s on-chain analysis, this investor had been transferring ETH to the exchange for four consecutive days.

The address of the same investor starting with “0x815” transferred 2,000 ETH on Monday, and 1,162 ETH and 1,121 ETH on Tuesday and Wednesday, respectively. The total amount deposited this week has reached over approximately $20 million (3 billion yen). According to Arkham Data, the address still holds about 4,657 ETH (equivalent to $21.9 million).

This investor initially acquired 100,000 ETH for $31,100 during the ICO, and it has now reached a value of $470 million. Transferring to an exchange is generally considered a selling action.

As the Ethereum price approaches its all-time high for the first time since November 2021, other ICO participants are also showing selling behavior. On Monday, another ICO participant transferred 2,300 ETH to Kraken. This investor initially acquired 20,000 ETH for about $6,200.

Additionally, another large investor has sold 5,125 ETH since August 2. Over the past four months, they have disposed of approximately 15,000 ETH.

The Ethereum ICO was conducted from July 22, 2014, to September 2, 2014, selling over 60 million ETH at an average of $0.31 per ETH, raising around $18.3 million. Initially, 2,000 ETH could be purchased for 1 BTC, totaling a funding equivalent to 31,531 BTC. At the launch in July 2015, 83% of the initial supply of 72 million ETH was distributed to ICO investors.

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