Turn $3,100 into millions

The wallet received Ethereum (ETH) coins on July 30, 2015 and remained… Inactive For an entire decade, I recently transferred $23 million from Ethereum. The move turned a $3,100 ICO investment into one of the most-watched events on the network this week.

The address initially acquired 10,000 ETH during the Ethereum IPO at $0.311 per token, representing a near-zero basis cost, which doubled to turn into an extraordinary return.

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A #Ethereum ICO participant “0xCD59” transferred the 10,000 $ETH($22.88 million) in a new wallet after being inactive for 10.8 years.

He only invested $3,100 in the ICO and received $10,000. $ETH — now worth $22.88 million, a return of 7,381x! pic.twitter.com/5gBezsDQC2

– Lookonchain (@lookonchain) April 28, 2026

When a portfolio of this size becomes active after ten years of silence, traders watch very carefully where the money goes.

Network data, tracked through the Arkham Intelligence platform, shows that the whale sold 10,000 ETH at an average price of around $2,027, completing the transaction in just one hour.

The move caused the price of ETH to fall by 1.5% over the same period, with the conversion spotted on monitoring platforms as a potential sell signal to exchanges.

Can Ethereum Price Hold Above $2,000 After Whale Liquidation?

The price of Ethereum currently stands at $2,300, which is the level it is currently charging at. This level has held several times, but the technical structure above remains weak, with lower highs forming and no clear breakouts. If the price stabilizes, ETH could consolidate and gradually move towards $2,800.

The $2,400 levels provide the first real resistance, while the $2,800 level represents the point that will once again turn the overall market structure higher.

Looking down, the $2,200 level is the first support, but if this level is broken, the $1,880 area will quickly enter the calculations, this is the point from which liquidation pressure begins to increase.

So the scene is simple: maintaining the $2,300 level means stability, while its loss will open the door for a rapid decline in the price.