8th July 2025 – (New York) An Ethereum address containing 900 ETH has recently shifted the coins following almost a decade of “HODLing,” as indicated by blockchain data. The address acquired these coins before Ethereum mining commenced, a privilege early contributors to the network would have enjoyed.
This move is part of a series of transactions involving substantial amounts of cryptocurrency by long-time holders. One investor, possessing $2.2 million in Ethereum, initiated the transfer of coins on Monday after leaving them dormant for close to 10 years, as per blockchain data.
Originally receiving the 900 ETH in 2015 when the coin was valued at under 50 cents, these coins were considered “genesis” coins, minted during Ethereum’s inception. Prior to active transactions on Ethereum, early contributors and developers received “pre-mined” ETH during the network’s nascent stages, when its value was negligible.
Ethereum, the second-largest digital currency after Bitcoin with a market capitalisation of $306 billion, transitioned from a proof-of-work network to a proof-of-stake model in 2022. Recently, a significant Ethereum whale sold holdings worth around $27.6 million, potentially yielding profits exceeding 18,000%. Likewise, a Bitcoin whale moved over $8 billion in BTC after a 14-year holding period.
While ETH is currently trading at $2,529 per coin, experiencing a 2% decline in the previous 24 hours, it has seen a 2% increase over the past month but remains 48% below its 2021 peak of $4,878, according to data from CoinGecko. Notably, Ethereum whales, holding 1,000 ETH or more (equivalent to around $1.5 million), have exhibited a significant decrease in holdings since 2020, with $20 million ETH being divested. Conversely, Bitcoin whales have been steadily accumulating.
Transitioning from a proof-of-work protocol, where coins were mined, to a more sustainable proof-of-stake mechanism, Ethereum’s evolution aims to reduce energy consumption. It’s worth noting that the holder moving 900 ETH does not qualify as a whale; Ethereum whales typically possess at least 10,000 ETH, valued at $25.3 million at current prices.
