One wallet sells 4,000 ETH (~$9.7M)
The wallet originally got 100,000 ETH for $31K
Early ICO participants still holding vast unrealized gains
Massive Profit Logs from Genesis Allocation
An address, 0xe927, recently unloaded 4,000 ETH—worth around $9.7 million—within a single hour. This wallet originated from the Genesis block, receiving a total of 100,000 ETH during the ICO era at roughly $0.31 per token. The initial outlay was an estimated $31,000—so even after the sale, the position retains an astoundingly large paper profit.
Profit-Taking Amid Market Momentum
Despite many corporations and investors buying BTC and ETH, early ICO holders like 0xe927 are cashing out. Their move appears to be selective profit realization—not defensive selling. That $9.7 million sale represents just 4% of their total holdings, leaving a reported ~$236 million still in the wallet. Even after disposing of ETH, the unrealized gains are astronomical.
While many companies are buying $BTC, early #Ethereum ICO participants are dumping $ETH.
0xe927 sold 4,000 $ETH($9.7M) in the past hour.
He received 100,000 $ETH (costing $31K, now worth $243M) at Genesis.
The ETH ICO price is ~$0.31.https://t.co/vgr90nPIgq pic.twitter.com/65C3W9YRaW
— Lookonchain (@lookonchain) June 25, 2025
Strategic Reserve or Risk Mitigation?
These periodic dumps from Genesis addresses can influence market sentiment, especially when headlines focus on major outflows. Still, with 96% of funds untouched, this doesn’t signal widespread distrusting or liquidation by early adopters. Rather, it shows wallet holders using past success to rebalance stakes or diversify into newer ventures while retaining Ethereum exposure.
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