In line with Lookonchain knowledge, an Ethereum OG has simply offered almost $17 million value of ETH at almost $1,600. Previous to this, the deal with had been dormant.
The deal with in query obtained its ETH when the altcoin was buying and selling at simply $8 again in 2016.
Notably, the whale avoided making large income when ETH was buying and selling at almost $4,000. The deal with in query tends to promote throughout main market corrections.
It’s unclear why the O.G. determined to capitulate now, however the choice is perhaps motivated by overwhelming bearishness surrounding Ethereum.
On Apr. 9, Ether dropped to yet one more multi-year low of 0.01855 BTC on the Binance alternate earlier than seeing a slight aid rally. ETH/BTC continues to be down 45% this 12 months after plunging by 34% and 25% in 2024 and 2023, respectively.
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As reported by U.In the present day, an ETF that delivers twice the alternative efficiency of the favored altcoin has surged by almost 250% in 2025, based on Bloomberg knowledge. This makes it the best-performing ETF of the 12 months. Actually, one other ETF that permits betting in opposition to Ether is available in second place. This underscores simply how abysmal Ether’s worth efficiency is.
On Tuesday, nonetheless, battered Ether bulls lastly bought their second within the solar. The altcoin is at present buying and selling at $1,621, recording a double-digit achieve after the U.S. determined to pause tariffs for many international locations and boosted risk-on property. That stated, it stays to be seen whether or not this rally could have legs on condition that the latest spike is because of macro-driven momentum.