 
 
A participant in the Ethereum initial coin offering (ICO) continues to offload thousands of Ether tokens after dumping millions worth of the cryptocurrency in recent days.
An Ether ICO whale moved 4,460 ETH, worth around $19 million, early Monday morning, on-chain data shows. Blockchain sleuth Arkham Intelligence noted that the address “0x815…” transferred the ETH tokens to the Kraken exchange, leaving the address with 197 ETH remaining.
This particular ICO whale has deposited around 9,803 ETH, worth nearly $44 million, to crypto exchanges in the past week alone, Arkham data shows.
Ether tumbled below $4,300 earlier today before quickly rebounding, still down 5% over the past 24 hours. It was less than seven days ago when the second-largest cryptic nearly tapped $4,800 and was within a few dollars of a fresh all-time high.
While experiencing a pullback at the moment, Ether is still up 62.9% over the past year, according to crypto data provider CoinGecko.
 
Such significant movements from ancient whale wallets depositing coins on trading venues are typically uncommon — but could indicate the owner is prepping to sell tokens, stake on an exchange, or diversify their holdings for other tokens.
These participants are known as “whales” in the cryptosphere because they hold massive amounts of tokens in their wallets, which can greatly impact the price or sentiment around a token because of the extent of their holdings.
Ether Was Launched Through An ICO In 2014
Unlike Bitcoin, which was introduced without any ICO in 2009, Ethereum was launched through a token sale.
The Ethereum ICO, held from July 22 to September 2, 2014, raised approximately $18 million by selling over 60 million ETH tokens to investors at an average price of $0.31 per coin.
The ICO spawned a number of Ethereum millionaires who have been holding large chunks of ETH through the years, with many cashing out amid the ETH price surge.
Source: https://zycrypto.com/ethereum-ico-participant-moves-19-million-worth-of-eth-to-kraken-as-crypto-market-retreats/