Ethereum OG Dumps Another 501 ETH After 2-Year Dormancy – More Selling to Come?

Dearest reader, it has come to my attention through the esteemed analytics account on the X social media network, Lookonchain, that two Ethereum wallets, which had been in a state of slumber for several years, have at last roused themselves from their hibernation. With a flourish, they have commenced the sale of their long-dormant ETH coins, as if awakening from a most delightful dream. 💤💰

Indeed, these whales, as they are affectionately termed, have sold a most considerable quantity of Ethereum this very week. One cannot help but wonder if they have been inspired by the recent excitement in the market, or perhaps they simply wished to indulge in a little retail therapy. 🐋🛍️

Ethereum OG and ETH ICO Whale Return from Dormancy

According to the reports from Lookonchain, our Ethereum OG has been rather industrious, continuing to part with his ETH stash. Just hours ago, he executed a rather audacious test transfer of one ETH, and then proceeded to move a staggering 500 ETH to be sold. This impressive sum is valued at a princely $1.29 million. One can only imagine the delightful plans he has for such a windfall! 💸✨

This whale, having been dormant for a full two years, has now returned to the fray. In the year of our Lord 2023, he had previously sold two batches of crypto, amounting to 2,286 ETH and 1,500 ETH, which were valued at $4.32 million and $2.83 million, respectively. It appears that the siren call of the market is too strong to resist! 🎉

In a most curious turn of events, a participant from the Ethereum initial coin offering (ICO) of 2014, who had remained in a state of dormancy for nearly a decade, has also awakened. He has transferred his entire stash of 2,000 ETH to the Binance exchange, as if to say, “I do believe it is time to cash in!” 💼💵

This gentleman sold his 2,000 ETH for a sum of approximately $5.13 million over the past few days. However, on Monday, the second-largest cryptocurrency, Ethereum, experienced a rather unfortunate tumble of more than 5%, following a rather exuberant rise of 6.65% on Sunday, when it had briefly surpassed the $2,680 mark. At the time of penning this missive, ETH is trading near $2,580, a rather precarious position, I must say. 📉

Ethereum ETFs Lose $10 Million

On June 16, the spot Ethereum ETFs encountered a most grievous setback, suffering cumulative outflows of nearly $10 million in a single day. One can only imagine the consternation among investors! 😱

The Fidelity Ethereum Fund ETF bore the brunt of this misfortune, losing 3,496 ETH, which is worth a staggering $9,035,971. Meanwhile, Invesco Galaxy faced a withdrawal of 172 ETH, resulting in a loss of $444,392 in fiat currency. It seems that not all is well in the realm of Ethereum ETFs! 📉💔

In a rather unfortunate twist, 78 ETH were withdrawn from the Grayscale Ethereum Trust, and the Grayscale Ethereum Mini Trust lost 2 ETH. The remaining spot Ethereum ETFs saw no inflows whatsoever. Yet, while the daily net flow was decidedly negative (minus 3,748 ETH), the weekly net flow remained largely positive, totaling 191,057 ETH. A curious state of affairs, indeed! 🤔

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2025-06-17 11:58