title: Ethereum (ETH) ICO participant wakes from long slumber to dump nearly $30M worth of ETH

Analysis from blockchain tracker Lookonchain reveals that an investor who participated in Ethereum's initial coin offering (ICO) has traded nearly $30 million worth of ETH

An investor who participated in Ethereum’s initial coin offering (ICO) has traded nearly $30 million worth of ETH after years of dormancy, blockchain tracker Lookonchain reports.

The Ethereum holder awoke from a long slumber to unload thousands of ETH in less than four weeks, the analytics firm says in a post on X, formerly Twitter.

Data shows the entity sending its coins to crypto exchange Kraken, presumably to be sold.

“The Ethereum ICO participant sold another 1,500 ETH ( 1,760,000) again today. Since ending a long dormancy on April 17th, sold 16,500 ETH ( 29,350,000) at an average price of 1,779 and still holds 13,500 ETH ( 24,820,000). ”

ETH is trading for 1,830 at the time of writing, a 4.8% decrease on the day.

In other news, deep-pocketed holders of the Official Trump (TRUMP) memecoin are still dumping the asset, albeit at a loss, Lookonchain adds.

“Two whales dumped 765,128 TRUMP ( 8,580,000) at a loss of 2,340,000 3kjP9L made 196,000 on TRUMP before, sold 337,560 TRUMP ( 3,810,000) and lost 1,380,000. 7X6Vun made 732,000 on TRUMP before, sold 427,568 TRUMP ( 4,770,000) and lost 961,000

“Two whales dumped 765,128 TRUMP ( 8,580,000) at a loss of 2,340,000 3kjP9L made 196,000 on TRUMP before, sold 337,560 TRUMP ( 3,810,000) and lost 1,380,000. 7X6Vun made 732,000 on TRUMP before, sold 427,568 TRUMP ( 4,770,000) and lost 961,000

Both wiped out all previous gains and lost 1.42 million in principal.”

TRUMP is trading for 11.00 at the time of writing, a 4.55% decrease during the last 24 hours.

Meanwhile, Lookonchain spotted a different whale who went long on Bitcoin (BTC) and a slew of altcoins – including ETH – and is currently sitting in profit.

“A whale has been long BTC, ETH, SOL, LTC, XRP, LINK and other 16 tokens in the past month, with a total profit of more than 9 million. Among them, the profit on BTC is the highest, reaching over 5 million. In addition, this whale bought 309 BTC (24,680,000) at an average price of 79,792 and is still holding it, now with unrealized profits of more than 5 million.”