Ethereum (ETH) Whale 'Dumps' in Historic Bull Market... "Held for 9 Years, 15,600% Profit"

▲ Ethereum (ETH), cryptocurrency whale/AI-generated image

An early whale investor who bought Ethereum (ETH) at $18.8 per coin has begun liquidating holdings, locking in a 15,600% return. As Ethereum breaks its all-time highest Q3 growth rate, long-term holders are rushing to realize profits.

According to U.Today, a cryptocurrency specialized media outlet, on September 29 (local time), on-chain tracking platform Lookonchain detected 1,000 ETH being deposited from an early investor's wallet to the Kraken exchange. This investor had purchased a total of 3,000 ETH at an average price of $18.8 per coin on the Gemini exchange in 2017 and withdrawn them to an external wallet. At the time, the initial investment principal was only $56,500.

Through this sale, the whale realized a net profit of approximately $8.8 million, recording a return of 156 times (15,600%) compared to the original principal. Even after the sale, 1,000 ETH worth $2.67 million reportedly remains in the wallet. This suggests that an early participant, who had held the coins for nearly 9 years, seized the opportunity of a strong rally to cash out.

The large-scale profit-taking coincided with Ethereum recording exceptional quarterly performance. According to CryptoRank data, Ethereum's return in Q3 2026 reached 72.7%, confirming its strongest Q3 rally in history. This figure represents a rebound after a 29.1% decline in Q1 and a 25.3% plunge in Q2. Considering that the average Q3 growth rate is typically 9.11% and the median is 4.55%, this is an unprecedented surge.

In the market, other large holders are also engaged in selling. In the last week of September, 112,000 ETH (approximately $300 million) held since 2023 were transferred to Bitfinex, and an over-the-counter (OTC) sale of 42,005 ETH (approximately $111.9 million) was also detected. While large long-term holders continue to release their holdings, institutional capital inflow is absorbing the downward selling pressure, thus defending the price.

[Article Key Summary]

-An early whale who bought 3,000 ETH at $18.8 per coin sold 1,000 ETH, locking in a 15,600% return.

-In Q3 2026, Ethereum surged 72.7%, breaking its all-time Q3 record and stimulating profit-taking by long-term holders.

-While hundreds of millions of dollars worth of whale holdings are being sold off, institutional buying is absorbing the selling pressure, supporting the market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*