Early Ethereum Investor Sells 14,000 ETH for $29 Million in Profits

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Early Ethereum Investor Sells 14,000 ETH for $29 Million in Profits
Early Ethereum Investor Sells 14,000 ETH for $29 Million in Profits
February 28, 2025


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An early Ethereum whale has reportedly sold 14,000 ETH via Wintermute OTC, a leading crypto trading algorithmic platform. The transaction, valued at approximately $31.92 million, took place yesterday, February 27 at 22:58 (UTC). Data from blockchain analytics platform Arkham Intelligence shows that the user behind the wallet, 0x95B…A90e7, transferred 14,000 ETH to Wintermute OTC in two transactions, each containing 7,000 ETH.

Ethereum Whale Transfers 14,000 ETH to Wintermute
Funding
It is worth mentioning that these 14,000 ETH originated from an old Ethereum address 0x035…8dFC7, which has received a total of 35,932 ETH in the past. Specifically, this early Ethereum address acquired these assets at an average price of $203.22 per coin between September 2016 and December 2018, totaling $7.3 million. Since accumulating Ethereum, the source address has started moving funds to different blockchain wallets. Some of these addresses have also interacted with Wintermute OTC over the years.
Whales make over $29 million in profits
It is worth noting that crypto assets transferred to Wintermute OTC are often sold for stablecoins. This suggests that the whale may have made a profit of $29.07 million by selling 14,000 ETH. After the transaction, the wallet currently has a balance of 0.515 ETH, worth $1,093. On the other hand, the source address still holds 49.562 ETH ($105,140).
Ethereum faces massive sell-off
The transaction comes as the overall crypto market continues to experience a major decline and investor panic is intensifying. Yesterday, the Fear & Greed Index fell to a multi-year low of 10, indicating that the market is in extreme fear. This was due to a massive sell-off in the market, with whales and institutions selling 8,074 ETH in 13 hours at an average price of $2,431. While investors are still recovering from the sell-off, prominent asset manager BlackRock transferred 30,280 ETH ($71.85 million) to Coinbase, hinting at possible sales. The transaction matched the $70 million outflow registered by BlackRock’s iShares Ethereum Trust (ETHE). In addition to BlackRock, other Ethereum spot ETF issuers also saw significant outflows this week. For example, Grayscale Investments and Fidelity sold a combined $24.5 million in ETH tokens. Meanwhile, the Fear & Greed Index is currently at 21 as the market is gradually recovering from yesterday’s sell-off. ETH is currently trading at $2,179, down 5.91% in the past 24 hours and 22.33% in the past week.

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