Ethereum ICO-Era Whales Take Profits as 98% of ETH Supply Is in Profit

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Coinspeaker2025/08/13 16:00

By:By Bhushan Akolkar Editor Hamza Tariq

An early Ethereum ICO participant sold 4,283 ETH for $18.97M, bringing total sales since 2021 to 44,284 ETH.

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Key Notes

Glassnode data shows that 98% of ETH supply is currently in profit, its highest level in two years, raising the likelihood of profit-taking.
Analysts warn that current levels are not ideal for entry and suggested a correction to $4,200 or $3,800.

Ethereum ETH $4 625 24h volatility: 1.1% Market cap: $557.99 B Vol. 24h: $67.53 B as the price struggles to break its all-time high of $4,891.

On-chain data shows that 98% of Ethereum is currently in profit, raising the likelihood of profit-taking. The price has pulled back 1% in the last 24 hours and is now finding support around $4,600.

Ethereum Whale Cashes Out Big, Secures $366M Profit

An early Ethereum participant has realized significant gains after offloading a portion of their holdings.

The investor, who originally purchased 100,000 ETH for $31,000, recently sold 4,283 ETH for approximately $18.97 million.

Since 2021, the wallet has sold a total of 44,284 ETH, generating around $105 million at an average price of $2,378 per token. Despite these sales, the address still holds 55,716 ETH, currently valued at about $261.6 million.

Overall, the investor’s total profit from these transactions stands at $366.8 million, marking an extraordinary 11,835x return on the initial investment, reported LookonChain.

An #Ethereum participant who bought 100K $ETH (costing $31K) sold 4,283 $ETH ($18.97M) again recently.

He has sold 44,284 $ETH ($105M) at an average price of $2,378 since 2021, leaving 55,716 $ETH ($261.6M).

The total profit is ~$366.8M, an 11,835x return!… pic.twitter.com/C7xwhHh4Nn

— Lookonchain (@lookonchain) August 13, 2025

98% ETH Supply Is Currently in Profit

Amid the massive 60% ETH price rally over the past month, the cryptocurrency’s market cap climbed above $500 billion, while overtaking giants like Netflix .

Following the recent rally, about 98% of ETH holders are in profit, which further raises the chances of profit-taking.

On-chain analytics firm Glassnode reported that Ethereum’s “Percent Supply in Profit” metric exceeded 98% on Thursday, marking its highest level in two years.

The indicator tracks the proportion of ETH coins currently valued above their last on-chain transaction price. Coins are considered “in profit” when the market price is higher than their previous transaction price and “in loss” when it is lower.

Ethereum ICO-Era Whales Take Profits as 98% of ETH Supply Is in Profit image 0

Ethereum’s “Percent Supply in Profit” hits 98%, the highest in two years. | Source: Glassnode

Historically, levels above 95% indicate an overheated market nearing a local peak, as the majority of investors sit on unrealized gains. This increases the likelihood of profit-taking.

I keep saying this, your time to buy $ETH isn't right now, that was earlier.

I'd prefer to wait for a strong correction to be chasing a position in $ETH .

Areas to monitor:
$4.2K
$3.8K

Targets after that?

Higher than $5K I would assume. pic.twitter.com/vxlLUUNmPk

— Michaël van de Poppe (@CryptoMichNL) August 14, 2025

So far, ETH treasury firms like Bitmine Technologies have supported the upside rally amid heavy accumulation over the past two months. The coming weeks will reveal whether whales are using this demand as an opportunity to exit their positions.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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