![\"ETH](\"https:\/\/coingape.com\/wp-content\/uploads\/2025\/05\/ETH-ICO-Whale-Offloads-76k-Coins-Ethereum-Price-To-Decline.webp\")
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An ETH ICO investor who participated in the project\u2019s 2015 Initial Coin Offering has sold off 76,000 units of the digital currency, fueling speculations of what it means for Ethereum price. . This selloff, after a decade of HODLing has raised concerns in the digital asset market about the sentiment among foundational ETH whales.<\/span><\/p>\n According to an <\/span>X update<\/span><\/a> from @ai_9684xtpa, the early Ethereum backer purchased each ETH for just $0.31 per coin. This earlier investor has now wrapped up a two-week-long selloff. The final transfer happened shortly after the social media platform made the development known. The report shows that 2,000 ETH was sent to Kraken for $3.66 million.\u00a0<\/span><\/p>\n It is worth noting that this transfer followed several large transactions. On April 30, the ETH ICO whale moved 3,000 ETH to the <\/span>crypto exchange<\/span><\/a> for $5.39 million. Another 3,000 ETH went to the exchange on May 2, bringing in $5.53 million. Three days before that, a similar transaction fetched $5.39 million.<\/span><\/p>\n The earliest move in these two weeks involved sending 8,000 ETH, worth around $12.74 million, to another wallet. Smaller movements, like 0.01 ETH worth $15.93, were also recorded.<\/span><\/p>\n Another notable transaction involved 6,000 ETH, valued at roughly $9.55 million. With ETH trading at $1,834.18 on the day of the final transfer, the whale\u2019s decade-long hold paid off. Such massive selloffs often trigger panic, especially when they come from long-term holders.<\/span><\/p>\n As of this writing, the Ethereum price is under mild bearish pressure. The coin has seen a pullback from its earlier this year\u2019s high value above $2,000.\u00a0<\/span><\/p>\n CoinMarketCap data shows the price was trading at $1,831.0, marking a 1.72% drop in the past 24 hours. Besides the ETH ICO investor selloff, general whale activity suggests institutional confidence is still growing.<\/span><\/p>\n For example, in the past three weeks, <\/span>ETH whales accumulated the coin<\/span><\/a>, spending over $1 billion.<\/span><\/p>\n Still, there are signs of weakness on the Ethereum price charts. A bearish divergence teased by the RSI hints that more corrections may be near. Analysts predict if momentum fails to pick up, Ethereum could revisit the $1,400 range, though some remain hopeful for a bounce back to $2,000 or even $4,000 if market sentiment shifts.<\/span><\/p>\n In other news besides the ETH ICO whale selloff, Ethereum co-founder Vitalik Buterin has proposed a major overhaul of the blockchain\u2019s structure. In a new plan, he <\/span>aims to simplify Ethereum<\/span><\/a> so that it is as understandable as Bitcoin.\u00a0<\/span><\/p>\n He believes the system is too complex, leading to high development costs and increased security risks. His proposal includes revamping both the consensus and execution layers.\u00a0<\/span><\/p>\n This includes shifting to 3-slot finality and replacing the Ethereum Virtual Machine with a simpler model like RISC-V. While this may not affect Ethereum\u2019s price immediately, Buterin expects it could bring long-term benefits and renewed trust in the protocol\u2019s future.<\/span><\/p>\n The post ETH ICO Whale Offloads 76k Coins, Ethereum Price To Decline?\u00a0<\/a> appeared first on CoinGape<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" An ETH ICO investor who participated in the project\u2019s 2015 Initial Coin Offering has sold off 76,000 units of the digital currency, fueling speculations of what it means for Ethereum price. . This selloff, after a decade of HODLing has raised concerns in the digital asset market about the sentiment among foundational ETH whales. The […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-391179","post","type-post","status-publish","format-standard","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/391179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=391179"}],"version-history":[{"count":0,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/391179\/revisions"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=391179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=391179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=391179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The ETH ICO Whale Selloff<\/strong><\/h2>\n
Implication for Ethereum Price<\/strong><\/h2>\n
The Vitalik Buterin Simplicity Plans<\/strong><\/h2>\n