Ethereum Whale Withdraws 11,999 ETH From Coinbase for Staking
A separate dormant ICO-era Ethereum holder has now sold part of a long-held stash on-chain, highlighting renewed whale activity that could affect short-term market supply.
ETH
Fact Check
The withdrawal of 11,999 ETH from Coinbase for staking is confirmed by on-chain tracking data from Onchain Lens (https://x.com/OnchainLens/status/2036965329080062253) and secondary news reports (MEXC). The mention of a separate ICO-era holder selling is corroborated by reports of a $31M liquidation by a 10-year dormant wallet on March 23, 2026 (Zycrypto).
Summary
A dormant ICO-era Ethereum whale sold 9,628.54 ETH on-chain at $2,049, realizing about $19.72 million. The address had originally received 38,800 ETH in 2015 and became active again roughly 45 minutes before the reported sale. On March 27, it also transferred 18,500 ETH to another address, indicating that additional selling could follow. This update adds a separate instance of significant whale activity to the broader Ethereum market narrative.
Terms & Concepts
- ICO: Initial Coin Offering, a fundraising method in which crypto projects distribute tokens or assets to early participants.
- Ethereum whale: A holder controlling a very large amount of ETH, whose transactions can attract attention because of possible market impact.
- On-chain: Activity recorded directly on a blockchain, making transfers and sales visible through public network data.