According to Cointelegraph, an Ethereum (ETH) ICO participant has woken up after 10 years of dormancy. The wallet owner bought ETH for 310 USD during the ICO event. The holdings are currently worth about $3.13 million, an increase of 10,097x. The wallet has just moved 200 ETH worth approximately $626,000. The movement of the 200 ETH tokens has sparked conversations about whether the wallet owner wants to sell the coins. Let’s discuss.
Will the ICO wallet sell its Ethereum holdings?
Ethereum (ETH) experienced quite a bullish breakout earlier this year. The asset climbed to a record high of $4,946.05 in August, hitting a new high in nearly four years. The ICO wallet can sell 200 ETH and book profits, given the bearish market environment.
Ethereum’s (ETH) current situation may be due to a decline in ETF inflows. ETFs have played a big role in the current market cycle. Additionally, retail investors are likely to move away from risky assets, such as cryptocurrencies. The chances of another interest rate cut in 2025 have decreased significantly. The Federal Reserve’s cautious outlook may have prompted investors to move to safe havens, such as gold.
Read also: Ethereum at $2.5K? How the bear market could spur a 20% decline
According to CoinCodex analystsEthereum (ETH) will break its current pattern in the coming week. The platform predicts that the asset will rise in the coming months and reach a new record level of $5372.73 on February 12, 2026. Reaching $5372.73 from current price levels will represent a rally of about 68.6%.
