Ethereum ICO Whale Moves $154 Million in ETH to OKX

An Ethereum ICO participant from 2015 has begun moving a significant portion of their ETH holdings, according to on-chain data shared by EmberCN. This whale, who initially received 1 million ETH at a price of $0.311 per coin during the ICO, recently transferred 48,500 ETH—valued at $154 million—to the cryptocurrency exchange OKX. The transaction was part of a larger movement of 64,100 ETH from the whale's original 0x7d6…1B4 address, which was then distributed to OKX in batches through another address.

Whale Retains Over 680,000 ETH Amidst Ethereum Price Recovery

Despite these substantial transfers, the whale still holds an impressive 682,000 ETH. This includes 345,000 ETH that has been staked, 287,000 ETH in the original address, and 50,000 ETH pledged through another address. These movements coincide with a recent 10% recovery in Ethereum's price following last week's slump. Additionally, Ethereum's gas fees have dropped to a five-year low, with the cost of gas on the Ethereum mainnet reaching just 1 gwei—its lowest since mid-2019, and significantly down from over 83 gwei in March, as highlighted by X user DarrenSRS.