{"id":51618,"date":"2026-09-22T14:06:32","date_gmt":"2026-09-22T14:06:32","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=51618"},"modified":"2026-09-22T14:06:32","modified_gmt":"2026-09-22T14:06:32","slug":"ethereum-ico-whale-spends-23-7-million-on-eth-it-sold-at-2010-in-march","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=51618","title":{"rendered":"Ethereum ICO whale spends $23.7 million on ETH it sold at $2,010 in March"},"content":{"rendered":"

On Sept. 21, a wallet from Ethereum\u2019s 2015 ICO dumped $23.7 million worth of stablecoins into 8,492.8 ETH, paying about $2,794 a coin.<\/strong><\/p>\n

That\u2019s almost 39% more than the $2,010 it fetched when it sold in March, by Cryptopolitan\u2019s calculation.<\/p>\n

Four Cow Swap orders cleared in eight minutes on Sept. 21<\/span><\/h3>\n

The purchase took place via Cow Swap, a decentralized exchange aggregator that pools orders. Address 0xBE42\u20260c5F dumped four stablecoins at once.<\/p>\n

On-chain analyst ai_9684xtpa<\/a>, who originally flagged the trade on X, pegged the total spend at $23.72 million with the cost basis at $2,793.59.<\/p>\n

The four fills were: 10,049,997.50 DAI for 3,591.36 ETH, 4,493,614.20 USDS for 1,611.18 ETH, 7,055,997.28 USDC for 2,527.90 ETH and 2,125,834.46 USDT for 762.36 ETH.<\/p>\n

The stablecoins departed the wallet between 15:29 and 15:37 UTC on Sept. 21, the CoW Protocol explorer order history shows.<\/p>\n

In that same session, the wallet cleared about 809 wrapped ether of debt on DeFi lender Aave, and pulled ~8,876 ETH of collateral back out. With the new purchase, it now has about 16,773 ETH.<\/p>\n

In the same order history, two rows down, dated March 27, the address sold 1,923.05 Aave-wrapped ether for 3,866,637.83 USDC. That works out to $2,010.68 a coin, with ETH finishing that day at $1,992.<\/p>\n

\"2015
CoW Protocol explorer<\/a> order history for wallet 0xBE42\u20260c5F.<\/figcaption><\/figure>\n

The whale exited around $2,010 and reentered around $2,794. At $2,749 for ETH at 12:38 UTC on Sept. 22, the new stack is down around $382,000.<\/p>\n

ETH traded as high as $2,807 within hours of the buy, the first print above $2,800 since Jan. 30, 2026.<\/p>\n

A $12,028 founding stake hit about $108.6 million at the Sept. 21 high<\/span><\/h3>\n

The address is connected to Ethereum\u2019s original sale. It was a subscription of 38,800 ETH at about $0.31 a coin, tokens that landed when the network went live in 2015, said ai_9684xtpa.<\/p>\n

The original outlay was about $12,028. That same position would be worth around $108.6 million at the Sept. 21 high near $2,800.<\/p>\n

In February, OG whales<\/a> removed tens of thousands of ETH from OKX and Binance into self-custody while ETH traded close to $2,037.<\/p>\n

Separate data<\/a> showed that large holders had shed up to 1.5% of their reserves in early 2026 as the price fell below $2,000.<\/p>\n

Another entity that dispersed purchases across new addresses picked up 21,520 ETH, equal to about $55.8 million, across five days starting Sept. 18. It paid between $2,450 and $2,762 for an average of $2,593 and is up about $3.25 million on paper.<\/p>\n

That cluster sold UBTC, wrapped bitcoin from Hyperliquid, to fund the ETH. It\u2019s similar to a previous Hyperliquid whale who traded 1,107 BTC for 34,422 ETH, although no one has confirmed the two are the same trader.<\/p>\n

Tom Lee\u2019s Bitmine added 27,562 ETH last week, and now holds close to 4.9% of ETH\u2019s supply.<\/p>\n

Spot ether ETFs took in $270 million on Monday, led by BlackRock\u2019s ETHA at $110.1 million and Fidelity\u2019s FETH at $73 million.<\/p>\n

If you’re reading this, you\u2019re already ahead. Stay there with our newsletter<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

On Sept. 21, a wallet from Ethereum\u2019s 2015 ICO dumped $23.7 million worth of stablecoins into 8,492.8 ETH, paying about $2,794 a coin. That\u2019s almost 39% more than the $2,010 it fetched when it sold in March, by Cryptopolitan\u2019s calculation. Four Cow Swap orders cleared in eight minutes on Sept. 21 The purchase took place […]<\/p>\n","protected":false},"author":1,"featured_media":51619,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[47],"tags":[],"class_list":["post-51618","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum"],"yoast_head":"\nEthereum ICO whale spends $23.7 million on ETH it sold at $2,010 in March - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=51618\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum ICO whale spends $23.7 million on ETH it sold at $2,010 in March - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"On Sept. 21, a wallet from Ethereum\u2019s 2015 ICO dumped $23.7 million worth of stablecoins into 8,492.8 ETH, paying about $2,794 a coin. 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