Ethereum ICO whale deposits $9 million in ETH on Kraken after two years of silence

The Ethereum Foundation continues to sell ETH regularly, and one Ethereum ICO participant deposited on Kraken after a two-year hiatus.
An Ethereum ICO participant who received 150,000 ETH at the genesis block has recently resurfaced after a two-year hiatus. This participant’s ICO cost only $46,500, and his current holdings have increased to a staggering $389.7 million.
Recently, according to Lookonchain, they transferred 3,510 ETH worth $9.12 million to the Kraken exchange.
Portfolio and recent transfers
A closer examination of this participant’s portfolio revealed that he currently holds 11,489.99 ETH, worth approximately $30.6 million. The wallet also holds 16 different tokens.
Notably, prior to this recent activity, the actor’s last known transaction occurred 771 days ago, when he received three transfers of 5,000 ETH each from another address.
Regular liquidation model of the foundation
Meanwhile, the Ethereum Foundation has maintained a stable liquidation pattern for ETH, which has attracted the attention of market observers.
On September 21, the foundation sold 300 ETH worth approximately $763,000 at an average price of $2,543 and exchanged ETH for DAI stablecoins. This transaction is the continuation of a series of similar operations.
Additionally, in early September, the foundation liquidated ETH worth $226,868 and $1,029,000, respectively.
According to the Spot On Chain article, the foundation has sold 950 ETH, equivalent to approximately $2.27 million, since the beginning of September. These trades occur in regular cycles of four to seven days.
Transfer to multi-signature wallet?
In addition to the Foundation’s activities, significant movements involving multi-signature wallets associated with the Foundation were observed.
On September 6, during the Ethereum price drop, blockchain data showed that 1,000 ETH worth approximately $2.38 million was transferred to the wallet. At the time, the wallet held 1,678 ETH, worth approximately $3.98 million, and 32 different tokens with a total value of $98,755.
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