Ethereum Rockets Past $4K, 97% of Holders Now in Profit

Ethereum’s price has been on the move, with momentum picking up after the U.S. President Donald Trump signed an executive order allowing cryptocurrencies, including ETH, to be part of 401(k) retirement plans.

The announcement helped fuel a rally over the weekend, sending ETH above $4,300 at its peak before easing slightly. According to CoinGecko data, this marks the asset’s strongest price performance since its 2021 bull run, bringing it within striking distance of its all-time high of $4,878.

ICO whales stir as prices climb

The rally hasn’t just boosted market sentiment; it’s also prompted movement from some of Ethereum’s earliest investors. On-chain analytics platform Lookonchain reported that an Ethereum ICO participant transferred 2,300 ETH, worth roughly $9.9 million, to Kraken on Monday.

The wallet, identified as “0x845…a210c,” still holds 1,623 ETH after the sale.

This particular investor originally received 20,000 ETH during the 2014 initial coin offering, paying about $6,200 in total. At today’s prices, those holdings are valued at around $86 million.

Historical data shows this wallet has made other notable transfers in recent months, including 3,000 ETH in November 2023, 1,000 ETH in February 2024, and 250 ETH in December 2024.

Ethereum’s ICO ran from July 22 to September 2, 2014, raising $18.3 million by selling over 60 million ETH at an average price of $0.31 per token. Early buyers saw an extraordinary return, more than 12,000 times their initial investment based on current prices.

Market bets and billionaire returns

The price surge has had ripple effects beyond whale activity. Ethereum co-founder Vitalik Buterin’s wallet balances now place him back in the on-chain billionaire category.

Meanwhile, traders on prediction platform Polymarket are speculating whether ETH will break its all-time high before October. At the time of writing, bettors are giving it a 62% chance.

Furthermore, with Ethereum up 17.5% over the past week, latest onchain data shows that about 97% of current holders are in profit.

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