Ether Whale Unloads $22M Worth of ETH After Holding Since 2016

Ether Whale Says Goodbye to $22M in ETH After 9 Years

The trader also sold off during significant market declines in 2022 and 2023.

Oliver Knight | Edited by Sheldon Reback Updated April 10, 2025, 4:10 PM Published April 10, 2025, 10:08 AM

What you need to know:

• An Ethereum investor who bought ETH in 2016 sold off the bulk of his holdings on Thursday.
• They also sold during significant market downturns in 2022 and 2023.
• ETH has risen 8.2% in the past 24 hours following Trump's decision to suspend tariffs.

The price of ether (ETH) fell to a two-year low of $1,412 this week, and the price swings appear to have proven too much for one long-time holder, who has sold off the bulk of his holdings, bought at around $8 in 2016.

Blockchain data shows that the wallet in question exchanged 14,015 ETH for $22 million within 15 hours on the decentralized platform Uniswap.

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The investor also sold 6,630 ETH in May 2022 and 4,035 ETH in June 2023, each time during a significant market decline.

This case is no exception, as ETH has just come down from its cyclical peak of $4,000 in December. They still hold 521 ETH worth $830,000.

ETH has rebounded in line with the broader market trend on Thursday, currently trading at $1,598, up 8.2% in the last 24 hours. Trading volume has also increased by 25% to $33 billion as optimism swells in the market following US President Donald Trump's decision to suspend tariffs for 90 days.

Later on Thursday, another wallet was spotted dumping ETH, selling 7,974 ETH ($11.8 million) at $1,479. The wallet still holds $40 million worth of ETH, and it's unclear if the two wallets are related.

ETH is now down 11% from Wednesday's high of $1,689.

UPDATE 17:09 UTC, April 10: Added details of a second wallet selling ETH and updated price data.

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