Why Are OG Crypto Whales Cashing Out? Early ETH Holders Move Millions

On-chain data from earlier today indicated that another ETH holder from the project’s initial days has taken profits after nearly a decade of holding, turning a relatively modest investment of $56,000 into more than $7 million. The transaction follows several recent moves by some of the oldest wallets in the crypto industry, including ETH addresses dormant for approximately a decade. Lookonchain noted on Friday that an Ethereum OG sold 3,000 tokens worth over $7.2 million. The unknown investor acquired the funds nine years ago ar under $19 apiece, meaning the position generated a return of nearly 130x.