Ether Whale Sells $22M in ETH After Holding for 9 Years

Key Points:

• An ether investor who acquired ETH in 2016 sold a large portion of their holdings on Thursday.

• They also made sales during key market downturns in 2022 and 2023.

• ETH bounced back by 8.2% in the past 24 hours after Trump announced a pause on tariffs.

Ether (ETH) hit a two-year low of $1,412 this week, and the market volatility appears to have led one long-term holder to sell most of their holdings, which were acquired at around $8 in 2016.

On-chain data indicates that the wallet in question exchanged 14,015 ETH for $22 million USDC over a 15-hour span on the decentralized exchange Uniswap.

Wallet transactions (Etherscan)

The investor had also sold 6,630 ETH in May 2022 and 4,035 ETH in June 2023, doing so during major market declines on both occasions.

This time was no exception, with ETH having recently fallen from a cycle high of $4,000 in December. The investor still holds 521 ETH, valued at $830,000.

ETH has recovered in line with the overall market on Thursday, trading at $1,598 after a 8.2% increase over the past 24 hours. Trading volume has also risen by 25% to $33 billion as optimism spreads throughout the market following U.S. President Donald Trump's decision to delay tariffs for 90 days.