Early Ethereum holder deposits 3,000 ETH to Kraken after nine years, netting 128x return
An early Ethereum investor transferred 3,000 ETH worth approximately $7.23 million to Kraken, realizing a 128-fold gain after holding the assets for nine years.
An early Ethereum investor moved 3,000 ETH worth around $7.23 million to a Kraken deposit address after holding the tokens for nine years, according to data from on-chain tracking platform Lookonchain and Arkham. The holder initially acquired the 3,000 ETH at a price of $18.83 per coin, representing an initial outlay of $56,480 and delivering a 128x return upon the sale.[1][2][3]
On-chain records show that the 3,000 ETH originally originated from a Gemini hot wallet nine years ago. The tokens subsequently shifted between intermediate wallets eight years ago—first moving in transactions totaling 3,000 ETH valued at roughly $1.55 million, and later settling into a holding wallet when the position was valued at $879,530—before remaining dormant until the recent transfer to Kraken.[1][2]
Key facts
- An early Ethereum holder transferred 3,000 ETH valued at roughly $7.23 million to a Kraken deposit address.
- The investor originally bought the 3,000 ETH nine years ago for $18.83 per coin, totaling $56,480.
- The sale marked a 128-fold return on the initial purchase price.
- Transaction history shows the 3,000 ETH was first withdrawn nine years ago from a Gemini hot wallet.
- The tokens passed through intermediate wallets eight years ago at valuations of $1.55 million and $879,530 before sitting untouched until the Kraken transfer.
Sources · 3 sources
- CO
Cointelegraph@CointelegraphPost on X ·
🔥 LATEST: An Ethereum OG who picked up 3,000 ethereum:native at just $18.83 nine years ago sold for around $7.23M, a 128x return, per Arkham data. https://t.co/j1yzaSKFdM
Open source - LO
Lookonchain@lookonchainPost on X ·
An #EthereumOG who bought 3,000 $ETH($7.23M now) at only $18.83 nine years ago sold today, making a 128x return! https://t.co/tUMi07RLsy https://t.co/jG32qwjdQk
Open source - TB
The Block@TheBlockCoPost on X ·
NEW: An Ethereum OG who bought 3,000 ethereum:native nine years ago sold on Thursday, making a 128x return, according to Lookonchain. Its value went from $56,480 to $7.23 million. https://t.co/96iiMQ1wCO
Open source