ETH bought for $14 nine years ago: 6,369 coins deposited into Kraken today
$ETH #EthereumFallsBelow2500Dollars
Lookonchain reports that an old address (0x8AC...aA93), which bought ETH for $14 nine years ago, deposited 6,369 ETH into Kraken shortly after 5 p.m. today, worth about $15.95 million.
📌 The numbers
- Cost: 6,369 × $14 ≈ $89,000
- Current value: about $15.95 million, roughly a 178x return
- ETH is currently at $2,493, just below $2,500; 24h: -0.8% (Binance spot)
1️⃣ Does moving coins to an exchange mean they’re going to be sold?
Depositing coins into an exchange is usually a step taken before selling, but it’s not yet clear whether any trades have been made or how much was sold.
2️⃣ These aren’t the only older coins on the move
CryptoQuant analyst nocoffeenobrain also noted today that BTC held for 1–3 years and for more than 3 years has been active since late September.
Some of this activity may be due to people moving coins after the Ledger hack as they switch signing devices and seed phrases. On-chain transfers like these don’t necessarily mean coins are being sold.
The analyst also looked back at history: both age groups were active around the same time when BTC fell from $90,000 to the mid-$60,000s in January–February this year, and when it moved sideways in the mid-$60,000s in July–August.
3️⃣ My take
- $15.95 million is a small amount compared with ETH’s daily trading volume; a single trade won’t shift the trend
- I care more about the frequency: repeated exchange transfers from old addresses would be a sign that long-term holders are taking profits as a group
- Binance perpetuals had a sell order of about $17.29 million sitting at $2,525 this afternoon, so there’s still overhead pressure above $2,500
For smaller investors:
- Don’t panic at headlines like “OG dumps”; check whether the coins were moved to an exchange or just to another wallet
- When prices are battling around the $2,500 level, keep leverage low
After holding for nine years and making 178x, would you sell around $2,500?
These are my personal views only and not investment advice. DYOR.
#EthereumFallsBelow2500Dollars #ETH #Ethereum #OnChainData
$ETH #EthereumFallsBelow2500Dollars
Lookonchain reports that an old address (0x8AC...aA93), which bought ETH for $14 nine years ago, deposited 6,369 ETH into Kraken shortly after 5 p.m. today, worth about $15.95 million.
📌 The numbers
- Cost: 6,369 × $14 ≈ $89,000
- Current value: about $15.95 million, roughly a 178x return
- ETH is currently at $2,493, just below $2,500; 24h: -0.8% (Binance spot)
1️⃣ Does moving coins to an exchange mean they’re going to be sold?
Depositing coins into an exchange is usually a step taken before selling, but it’s not yet clear whether any trades have been made or how much was sold.
2️⃣ These aren’t the only older coins on the move
CryptoQuant analyst nocoffeenobrain also noted today that BTC held for 1–3 years and for more than 3 years has been active since late September.
Some of this activity may be due to people moving coins after the Ledger hack as they switch signing devices and seed phrases. On-chain transfers like these don’t necessarily mean coins are being sold.
The analyst also looked back at history: both age groups were active around the same time when BTC fell from $90,000 to the mid-$60,000s in January–February this year, and when it moved sideways in the mid-$60,000s in July–August.
3️⃣ My take
- $15.95 million is a small amount compared with ETH’s daily trading volume; a single trade won’t shift the trend
- I care more about the frequency: repeated exchange transfers from old addresses would be a sign that long-term holders are taking profits as a group
- Binance perpetuals had a sell order of about $17.29 million sitting at $2,525 this afternoon, so there’s still overhead pressure above $2,500
For smaller investors:
- Don’t panic at headlines like “OG dumps”; check whether the coins were moved to an exchange or just to another wallet
- When prices are battling around the $2,500 level, keep leverage low
After holding for nine years and making 178x, would you sell around $2,500?
These are my personal views only and not investment advice. DYOR.
#EthereumFallsBelow2500Dollars #ETH #Ethereum #OnChainData