Why is the ETH whale transfer significant?

Large whale movements often indicate potential sell-offs, which can create market volatility and affect investor confidence.

How much profit has the whale earned so far?

The whale has earned approximately $32.89 million in profit, achieving a 21.82x return on investment.

What impact could this transfer have on ETH price?

If the whale sells the 2,200 ETH, it could put short-term downward pressure on ETH, though the asset’s fundamentals remain strong.

How does this compare with recent Bitcoin whale activity?

A dormant Bitcoin whale also moved 1,176 BTC ($136.2M) to an exchange recently, showing that both BTC and ETH whales are becoming more active.

What is the current status of ETH price and market performance?

ETH is trading at $4,511, slightly down 0.02% daily, but up 3.5% weekly, with a $544.45B market cap and $31.79B 24-hour volume.

2017 Ethereum OG Wallet Shifts 2.2K ETH Ahead of Possible Sell-Off

Ronny Mugendi

September 16, 2025

Last Updated: September 16, 2025

Ethereum OG Wallet’s Potential ETH Sell-Off Sparks Concerns

In a surprising move, an Ethereum OG wallet from 2017 transferred 2,200 ETH, worth about $9.92 million, to the Bybit exchange. This significant transaction has raised questions about a possible sell-off, which could bring the investor a profit of around $9.518 million.

Ethereum OG Wallet Moves 2.2K ETH

According to Wu Blockchain, an Ethereum OG wallet transferred 2,200 ETH tokens, valued at $9,920,000, to Bybit earlier today. If this leads to a sell-off, the owner could earn an impressive profit of $9.5M.

This Ethereum OG wallet has a history of carefully accumulating and moving the second-largest cryptocurrency. From May 2017 to February 2020, the whale gathered about 16,830.64 ETH at an average price of $181.35.

This year, the whale deposited 8,310 ETH to exchanges, valued at approximately $41.4 mn. This translates to an average selling price of $4,140, resulting in a total profit of $32.89 million and a return on investment of 21.82 times. The Ether transfer follows a similar movement of a dormant Bitcoin whale who shifted 1,176 BTC, valued at $136.2 million, to Hyperliquid for selling. The large holder swapped 35,991 BTC ($4.04 billion) for 886,371 tokens ($4.07 billion) between August 20 and September 1.

Ether Price Dips

Amid this possible sell-off, the Ether price is trading in the red zone. Currently, the token is valued at $4,511, down 0.02% in a day. Despite a 0.73% dip over the past month, Ether has seen a 3.5% hike over the past week.

The 24-hour trading volume is low at $31.79 billion, down by around 10%. However, with a staggering market cap of $544.45 billion, the altcoin stands firm in the second position on CoinMarketCap.

ETH Price

Recently, the cryptocurrency hit its all-time high of $4,758, sparking investor interest and optimism. However, the altcoin’s subsequent plummet and the early investor’s possible sell-off have invoked a fresh wave of anxiety.

If this early investor sells his 2,200 coins now transferred to Bybit, it could ignite a notable price movement in the crypto market. Analysts and experts are keenly observing the market movement to see if the price will be impacted by the trader’s moves.

About the Author Ronny Mugendi

Technical Analyst at coingabbar.com

Ronny Mugendi is an experienced crypto journalist with four years of professional expertise, having made substantial contributions to multiple media platforms covering cryptocurrency trends and innovations. With more than 4,000 published articles to his name, he is dedicated to informing, educating, and bringing more people into the world of Blockchain and DeFi. Beyond his journalism work, Ronny finds excitement in bike riding, enjoying the adventure of exploring fresh trails and landscapes.