Ethereum ICO Wallet Moves $120M After 10 Years, Fully Stakes Tokens
A pretty big Ethereum whale from way back in the genesis era has suddenly popped back up, moving a $120 million stash of Ether...
Quick overview
- A significant Ethereum whale has moved a $120 million stash of Ether into the staking pool, indicating confidence in ETH's long-term growth.
- While some early Ether holders are selling their assets, others are staking their ETH, showcasing a mix of strategies among top holders.
- The top 1% of Ether addresses now control nearly 98% of the total supply, reflecting a strong commitment to Ethereum's future.
- Analysts believe that the accumulation and staking behaviors of major players suggest optimism about Ethereum's long-term prospects despite short-term price fluctuations.
A pretty big Ethereum whale from way back in the genesis era has suddenly popped back up, moving a $120 million stash of Ether into the staking pool instead of cashing it in. The wallet, which bought 40,000 ETH all the way back in July 2015 for an initial $12000, has now seen a wholesale increase in its value.
According to blockchain analytics firm Lookonchain, the whale transferred the entire balance into Ethereum’s staking system, which is a clear sign that the whale is still pretty confident in the long-term growth prospects for ETH as well as the Eth2 Beacon Chain.
This comes at an interesting time, given recent discussion about how large whales influence Ether’s short-term price. Analysts have been keeping a close eye on these historic wallets because whenever one of them moves, it can spark speculation about what’s going on.
Other ICO Whales Do Some Different Things
While that whale is doubling down, other early-day Ether holders are pushing in opposite directions:
JUST IN: A dormant Ethereum ICO whale just moved 40,000 ETH ($120M) after 10 years — and staked all of it. Zero selling. Ultra-bullish conviction from one of ETH’s earliest holders. pic.twitter.com/zFidp4c0UP
— Jessica Gonzales (@lil_disruptor) December 2, 2025
- One of the wallets that was around during the ICO – it owns 254,908 ETH – started selling up on 26th November, offloading 20,000 ETH at first, leaving roughly $9.3 million in Ether sitting in it.
- Another wallet holding 154,076 ETH since 2017 just sent 18,000 ETH to the Bitstamp exchange. It’s worth noting that it also sold 87,824 ETH back in the day at an average price of almost $ 1,700.
- Unbelievably, one of the 2015 whales has finally come back to life after eight years, and staked 150,000 ETH out of its one million-token balance.
All this shows just how mixed up everyone’s strategy is – some of these guys are selling while others are just locking in their profits by staking.
Top Eth Holders Keep Accumulating
Even though some of the top holders have sold, Ethereum’s biggest players are still piling into positions. Data from Glassnode shows that the top 1% of Ether addresses now control nearly 98% of the total supply – up from 96.1% just a year ago.
The Eth2 Beacon Deposit Contract is at the top of the list with a wholesale 72.4 million ETH (that’s worth around $203 billion) – that’s more than 60% of total supply. Binance also made it into the top three – they’re holding 4 million ETH – and BlackRock comes in third with 3.9 million ETH.
Analysts think these staking and accumulation moves show that the early players are really committed to Ethereum’s long-term success. While the short-term price swings are all anyone wants to talk about right now, the fact that most of the big players have all their eggs in the staking pool is a big sign that they don’t think this is going to end badly anytime soon.
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