Early Ethereum Investor Dumps 15K ETH Valued at $30.97 Million

Highlights:

• An early Ethereum investor has dumped 15,000 ETH worth $30.97 million.
• Ten years ago, the investor had initially received over 170,000 ETH worth $2.2 million.
• Despite the selloffs, the wallet still holds $30.17 million worth of digital assets. 

An Early Ethereum has dumped 15,002 Ethereum tokens, valued at about $30.97 million. Lookonchain, a renowned crypto transactions tracking platform, spotted the on-chain activity. The platform noted that the investor completed the token sell-off in a single move, sparking concerns about its impact on Ethereum price movements. 

Ten years ago, this investor received 172,700 ETH, valued at approximately $2.2 million at an average cost of $12.83 per token. Today, these tokens are worth over $350 million, suggesting the investor sold portions of the holdings for profits. After the selloff, one of the wallets linked to the investor still holds $30.17 million in digital assets. 

Ethereum accounts for almost the entire valuation of this wallet. For context, the wallet holds 14,814 ETH worth roughly $30.17 million, at an average cost of $2,036.65 per ETH. There are 16 other cryptocurrencies in the wallet with a combined valuation of approximately $20. Some of them include XDATA, AMERICA, LPT, HEX, DECT, and ACH.

JUST IN: ETHEREUM OG DUMPS 15,002 ETH WORTH $30.9M

A long-term Ethereum holder recently offloaded a large position.

According to @lookonchain, the wallet (0xa2F6) sold 15,002 $ETH in a single move. The transaction is valued at roughly $30.97 million.

The wallet received… pic.twitter.com/s1rvQHR4va

— BSCN (@BSCNews) March 23, 2026

ETH Investors Show Strong Faith in the Asset Despite Dumping Actions

Aside from the early ETH investor, Lookonchain reported other ETH transactions among large holders. In a separate tweet, the on-chain tracker reported that a whale holding over 130,000 ETH recently sold 5,000 tokens for $10.31 million at the rate of $2,063 per ETH. 

The proceeds from the sale were used to offset part of a debt. “This whale still holds 126,000 ETH ($260 million) on Aave, with ~$122 million in loans remaining,” Lookonchain added. Despite the rising sell-off pressure, some investors have continued to show faith in Ethereum.

A whale holding over 130K $ETH($268M) just sold 5,000 $ETH ($10.31M) at $2,063 and repaid part of his debt.

This whale still holds 126K $ETH($260M) on #Aave, with ~$122M in loans remaining.https://t.co/FChbbj1Olv pic.twitter.com/tb5jC7ejj9

— Lookonchain (@lookonchain) March 23, 2026

For example, Lookonchain reported that Ethereum builder “thomasg_eth” has been selling ETH at low prices and repurchasing at high prices. On 3 March, he sold 12,131 ETH for $24.24 million at an average cost of $1,998. In the just-concluded week, he repurchased 10,209 ETH, valued at about $22.58 million at $2,211 per token. 

The mysterious wallet linked to another early Ethereum investor, Erik Voorhees, has also been accumulating more ETH tokens. In a recent tweet, Lookonchain reported that Erik purchased an additional 2,103 ETH tokens for $4.35 million. The average cost of each token was $2,069. “In the past 2 weeks, this whale has spent $264.37 million USDT to buy 122,355 ETH at an average price of $2,161,” the on-chain tracker added. 

Another whale, who purchased 11,950 ETH for $51.32 million from Binance seven months ago, has transferred the assets to a new wallet. This investor paid an average of $4,295 per ETH during the purchase. Currently, the ETH holdings are worth approximately $24.55 million, implying a paper loss of about $26.77 million. So far, he has not sold any of his ETH holdings, highlighting strong faith in the asset. 

Whale 0x2607 withdrew 11,950 $ETH ($51.32M) from #Binance 7 months ago at $4,295, near the top, and is now worth $24.55M, with a $26.77M (-52%) loss.

Today, he transferred the 11,950 $ETH to a new wallet and has not sold yet.https://t.co/uQ0GquxdeZ pic.twitter.com/fQx8ZUwWXM

— Lookonchain (@lookonchain) March 23, 2026

Recent Crypto Market Dip Might Intensify ETH Sell-offs

At the time of press, the crypto market valuation has dropped by about 0.9% in the past 24 hours. The market is now valued at about $2.425 trillion with a trading volume of roughly $78.09 billion. Bitcoin’s valuation has slipped below $7,000, with a market dominance of 56.4%. 

On its part, ETH has declined by 2% in the past 24 hours. It is changing hands at approximately $2,045 with a market cap of $246.75 billion and a trading volume of about $14.45 billion. In the past week, ETH dropped 9.6%. However, 14-day-to-date and month-to-date metrics showed upswings of about 3% and 4.3%, respectively.