Ethereum ICO Whale Sells $60M in ETH, Large Holders Continue to Buy
Ethereum watchers are buzzing about the recent $60 million sale from an early ICO buyer. This move has sparked numerous discussions across crypto circles, with many speculating about its implications for the market.
Some observers are concerned, fearing it could signal trouble, while others highlight the steady buying activity from large holders. Analysis of on-chain data reveals that this sale fits a measured pattern, as bigger wallets persist in adding more ETH to their portfolios.
ICO Whale Sale: Measured Profit Taking
An early supporter of Ethereum decided to liquidate another batch of tokens, equating to $60 million. Importantly, this sale did not occur suddenly; instead, the wallet has been gradually trimming its holdings over several months, with transfers commencing in early September in a slow and steady rhythm.
This investor was part of the Ethereum 2014 crowdsale, acquiring ETH at around $0.31 each with a total investment of about $79,000 for 254,000 ETH. This initial position skyrocketed to more than $757 million at current market prices. Following this recent sale, the wallet retained approximately $9.3 million in ETH.
An #Ethereum ICO participant sold 20,000 $ETH($58.14M) via FalconX again 11 hours ago.
This OG (0x2eb0) received 254,908 $ETH during the ICO(cost $79K, now worth $757M).
— Lookonchain (@lookonchain) November 26, 2025
The crypto community’s reactions to this significant move have been mixed. Some praised the investor’s patience and calculated approach, while others interpreted the sale as a potential warning sign. Many on social media speculated that it might foreshadow a market downturn. However, preliminary data tells a more composed story. The wallet’s activity showcased a structured reduction of exposure, suggesting that the market remains liquid and stable.
Typically, such activities emerge when early investors feel inclined to secure a portion of their substantial profits.
Large Ethereum Holders Keep Adding to Their Supply
Recent insights reveal that large Ethereum addresses have continued to increase their stake in the network. As of this year, the top 1% of holders controls an astonishing 97.6% of the circulating ETH—up from 96.1% just a year prior. This shift indicates that the wealthiest individuals and organizations are consistently adding to their holdings, even as prices have cooled.
Many of these prominent addresses belong to staking operators, validators, and long-term storage wallets, which typically follow a slow trading cycle. Historical trends suggest that these kinds of wallets don’t engage in frequent trading. Instead, they tend to move ETH into private storage rather than exchanges, as illustrated by the current low balances on exchanges, which have lingered at multi-year lows for several months.
ETF Buying Picks Up After a Weak Stretch
On a positive note, US spot Ethereum ETFs have seen renewed positive inflows, reversing an eight-day streak of outflows. In fact, these funds added about $60 million on Wednesday, marking the fourth consecutive day of gains. ETF flows often serve as a barometer for larger investor sentiments. During the previous downtrend, there were worries that funds may have lost interest. However, this recent uptick in inflows signals a revived appetite for ETH among asset managers.
Moreover, this ETF rebound precedes the anticipated Ethereum Fusaka upgrade. Developers have indicated that this update will enhance not only the execution layer but also the staking process, leading many investors to perceive these advancements as indicators of continued network growth.
Market Sentiment Finds Support From Fresh ETF Buying
Beginning the month on a shaky note, ether ETFs experienced a series of outflows, which led many to wonder about the long-term interest of institutional investors. However, the recent return to positive inflows has altered the prevailing mood.
According to data from Farside Investors, funds reverted to the green for four consecutive days, signaling ongoing engagement from the institutional sector. This trend reinforces the idea that large players remain active participant, even amid sideways trading.
Additionally, growing open interest in ETH futures signifies that traders are taking up more contracts, suggesting a gradual rebuilding of confidence in the derivatives markets. This combination of ETF inflows and rising futures activity presents a stable picture of ongoing involvement; large players still seem engaged, even during this sideways trading phase.
