On June 9, an address that previously participated in the Ethereum ICO deposited 991.67 ETH worth approximately 2,510,000 USD onto the exchange, according to data from on-chain analysis expert @ai_9684xtpa. This address was once known as the “1 million ETH ICO whale,” referring to the amount of ETH it held during the early stages.

From May 26 to now, the total amount of ETH suspected to have been sold off by this whale has reached 9,845.96, estimated to be equivalent to 25,230,000 USD. The cost basis when participating in the Ethereum ICO for this address was only 0.31 USD per ETH, indicating the potential profits that could have been realized at an almost absolute level compared to the current market price.