An investor who participated in the Ethereum ICO has recently realized a sale of 2,300 ETH, netting approximately $9.9 million. This transaction was conducted using the Kraken exchange.
Details of the 2,300 ETH Sale
According to blockchain data from analysis provider Lookonchain, the address 0x845…a210c transferred 2,300 ETH to Kraken, leaving a remaining balance of 1,623 ETH. This address has also been noted for making similar sales.
Ethereum's Initial Coin Offering
The Ethereum ICO took place from July 22 to September 2, 2014. Over 60 million ETH were sold at an average price of $0.31, raising about $18.3 million. 83% of the initial supply was allocated to ICO investors.
Current Market Situation of Ethereum
As of the time of this report, the price of ETH is slightly below $4,300, at $4,288. This implies that early investors have seen returns exceeding 12,000 times their initial investment of $6,200 for 20,000 ETH.
The situation with ETH demonstrates how early investments in cryptocurrencies can yield significant profits, particularly given current market price trends.
