The post Ethereum ICO Investor From 2014 Transfers $9.9M as ETH Supply Hits Lows appeared first on Coinpedia Fintech News
An early Ethereum ICO participant has re-entered the spotlight after transferring 2,300 ETH, worth about $9.9 million, in a single transaction. As per Lookonchain data, this investor originally bought 20,000 ETH during the 2014 Genesis sale for just $6,200 and still holds 1,623 ETH, valued at roughly $6.99 million. The move comes as Ethereum’s price action heats up, adding to speculation about what’s next for the market.
Big Players Make Big Moves
Ethereum’s largest holders have been active, moving more than $16 million in ETH to Kraken shortly after the cryptocurrency broke out of a multi-year symmetrical triangle pattern that formed since 2021. Many analysts view this breakout as a powerful bullish signal, with price targets as high as $15,000, a potential 372% surge from current levels.
Altcoin Season Gains Momentum
This whale activity is happening alongside a shift in market dynamics. Data shows ETH is now seeing more capital inflows than Bitcoin, signaling the start of altcoin season. Institutional interest in Ethereum is rising, with treasury investments and ETF expectations adding fuel to the rally.
Michaël van de Poppe predicts a volatile week, suggesting Bitcoin could touch $120K before a correction triggers sharp altcoin drops. In the meantime, Ethereum’s recent strength may stall briefly, opening the door for smaller altcoins to run.
Ethereum Dev Says “We’re Just Infra Builders” After Detention in Turkey Over ‘Misuse’ Claim
,
Large transfers from dormant wallets often impact market sentiment. This latest move coincides with shrinking ETH supply on exchanges and increased institutional buying, creating a supply squeeze. Many traders see this as a bullish backdrop that could sustain upward price momentum.
Risks Still in Play
Despite the excitement, on-chain analyst CryptoQuant warns of possible turbulence ahead. High leverage, strong resistance levels, and rising ETH inflows to exchanges could spark short-term volatility. However, they note that strong fundamentals, such as institutional demand, ETF interest, and ongoing network upgrades, should keep Ethereum’s broader uptrend intact.
Analyst Ali Martinez points to Ethereum’s MVRV ratio as a key reason why the rally may not be over. The ratio, which compares ETH’s current market price to the average price paid by holders, is not yet at “extreme” levels that typically signal a market top. This suggests Ethereum still has room to climb before hitting its peak in the current cycle.
function subscribed_popupmodal(template_id) { var templateId = ‘6’; getAllSubscriberCategoryList([templateId]); var subcribemodal = window.parent.document.getElementById(‘subscribe-modal-design’); if (subcribemodal) { var modalContent = `
Never Miss a Beat in the Crypto World!
Stay informed and gain the edge you need to navigate the crypto world. Select your subscription now
if (storeCheckedId.length === 0) { var unsubcribedPopUpmodal =
`
You’ve Unsubscribed Successfully
We’re sorry to see you go! Your subscription has been canceled. If you change your mind, you can re-subscribe anytime. Thank you for being part of our community!
Thank you for subscribing to our crypto and blockchain newsletter! You’ll now receive the latest news, insights, and updates straight to your inbox. Welcome to our community!
`;
let selectedSubscriptionsArray = selectedSubscriptionsString.split(‘,’); let subscribedCategories = selectedSubscriptionsArray.map(subscription => subscription.split(‘_’)[0]); let subscribedCategoriesString = subscribedCategories.join(‘, ‘);
subscribedmodal.innerHTML = subscribedPopupModal; if (document.getElementById(‘selectidname’)) { document.getElementById(‘selectidname’).textContent = subscribedCategoriesString; }
function closeModal(template_id) { var modalId = template_id; var modal = document.querySelector(‘#’ + modalId); // Using querySelector to find the modal
// Function to get cookies function getCookie(name) { let value = “; ” + document.cookie; let parts = value.split(“; ” + name + “=”); if (parts.length == 2) return parts.pop().split(“;”).shift(); }
// Get user token from cookies const userToken = getCookie(‘user_token’);
if (subscribewithoutData === ‘true’ && userToken) { // Call the modal function with the category ID subscribed_popupmodal(subscribe_clicked_cat_id);
// Remove the flag and category ID from localStorage localStorage.removeItem(‘subscribe_without_Login’); localStorage.removeItem(‘subscribe_clicked_id’); } });
var listItems = document.querySelectorAll(‘.subscription-options li’); if (listItems.length === 0) return;
var anyActive = false; listItems.forEach(function(item) { var checkbox = item.querySelector(‘input[type=”checkbox”]’); if (checkbox) { if (checkbox.checked) { item.classList.add(‘active’); anyActive = true; // Set anyActive to true } else { item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked } } });
}
function updateButtonText(anyActive) { var subscribeButtonSpan = document.querySelector(‘.subscribe-submit .changeBtnText’); if (subscribeButtonSpan) { if (anyActive) { subscribeButtonSpan.textContent=”Subscribe Now”; } else { subscribeButtonSpan.textContent=”Unsubscribe”; } } }
function updateSubscriptionButton() { var listItems = document.querySelectorAll(‘.subscription-options li’); if (listItems.length === 0) return;
var anyActive = false; listItems.forEach(function(item) { var checkbox = item.querySelector(‘input[type=”checkbox”]’); if (checkbox) { if (checkbox.checked) { item.classList.add(‘active’); anyActive = true; // Set anyActive to true } else { item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked } } });
// Update the button text based on whether any list item has the ‘active’ class updateButtonText(anyActive); } document.addEventListener(‘click’, function(event) { var clickedItem = event.target.closest(‘.subscription-options li’); if (clickedItem) { var checkbox = clickedItem.querySelector(‘input[type=”checkbox”]’); if (checkbox) { checkbox.checked = !checkbox.checked; updateSubscriptionButton(); } } });
FAQs
What is the ETH price prediction for 2025?
As per our Ethereum price forecast 2025, the ETH price could reach a maximum of $5,925.
Is it better to buy Bitcoin or Ethereum?
While Ethereum is trusted for its stout fundamentals, Bitcoin continues to dominate with its widespread adoption.
How much would the price of Ethereum be in 2040?
As per our Ethereum price prediction 2040, Ethereum could reach a maximum price of $123,678.
How much will the ETH coin price be in 2050?
By 2050, a single Ethereum price could go as high as $255,282.