The latest movement of the Ethereum ICO whale has been reported. According to a tweet from Spot On Chain this morning (3rd), the Ethereum-based charity fund Endaoment sold 3,690 ETH in a single transaction for $12.47 million (valued at approximately $12.78 million based on the current price of around $3,465 per ETH).
This is the first time Endaoment has sold ETH in 10 months, and it is the largest transaction in history.
It is noteworthy that the 3,690 ETH came from an Ethereum ICO whale who acquired 100,000 ETH at the time of the genesis block in July 2015. He has now sold 13,190 ETH and still holds 85,000 ETH in two wallets (currently valued at nearly $294.5 million).
It remains unclear why this Ethereum ICO whale donated 3,690 ETH to Endaoment. Besides charity, tax savings could also be one of the reasons. For instance, Tesla CEO Elon Musk chose to donate over $108 million worth of 268,000 shares of Tesla stock to charity just before 2025, with speculation that it was for tax benefits.
ETH breaks above 3500, Bitwise: looking at $7000 in 2025
In terms of Ethereum's price, ETH has steadily risen by 5.9% from $3,314 to a high of $3,510 since entering 2025, and is currently reported at $3,458, with the 24-hour increase narrowing to 1.13%.
CryptoQuant analyst points out that the funding rate for ETH contracts has significantly increased recently, indicating that most traders are holding long positions. If this continues, it could drive a substantial bullish rebound. Additionally, the decline in ETH exchange balances coincides with this new buying pressure, which could potentially push Ethereum towards the key resistance level of $4,000 in the medium to short term, representing over a 15% fluctuation compared to the current price.
Cointelegraph today cites a Bitwise prediction that Ethereum will reach $7000 in 2025, while SOL is projected to hit $750.
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