Long-term Ethereum holder transfers 900 ETH after a decade
July 8, 2025 – (New York) An Ethereum address containing 900 ETH has recently transferred the coins after nearly a decade of "HODLing," according to blockchain data. This address acquired these coins before Ethereum mining began, a privilege enjoyed by early contributors to the network.
This step is part of a series of transactions involving large amounts of cryptocurrencies by their holders for a long time. One investor, who owns $2.2 million worth of Ethereum, began transferring the coins on Monday after leaving them dormant for over 10 years, according to blockchain data.
Originally received 900 ETH in 2015 when the coin was valued at less than 50 cents, these coins were considered "genesis coins," minted during the early days of Ethereum. Before active transactions on Ethereum, early contributors and developers received ETH "pre-mined" during the emerging network stages, when its value was negligible.
Ethereum, the second largest digital currency after Bitcoin with a market cap of $306 billion, transitioned from a proof-of-work network to a proof-of-stake model in 2022. Recently, a large Ethereum whale sold assets worth about $27.6 million, potentially yielding profits exceeding 18,000%. Similarly, a Bitcoin whale transferred over $8 billion worth of BTC after a 14-year holding period.
While ETH is currently trading at $2,529 per coin, with a 2% drop in the last 24 hours, it has seen a 2% increase over the past month but is still down 48% from its peak of $4,878 in 2021, according to data from CoinGecko. Notably, Ethereum whales, who hold 1,000 ETH or more (equivalent to about $1.5 million), have shown a significant decrease in holdings since 2020, having offloaded 20 million ETH. In contrast, Bitcoin whales have been continuously accumulating.
The transition from the proof-of-work protocol, where coins were mined, to the more sustainable proof-of-stake mechanism aims to reduce energy consumption. It is worth noting that the holder transferring 900 ETH is not considered a whale; Ethereum whales typically hold at least 10,000 ETH, worth $25.3 million at current prices.