According to Cointelegraph, an Ethereum (ETH) ICO participant has awakened after 10 years of dormancy. The wallet owner bought $310 worth of ETH during the ICO event. The holdings are currently worth around $3.13 million, an increase of 10,097x. The wallet just moved 200 ETH worth roughly $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 outbreak earlier this year. The asset climbed to an all-time high of $4,946.05 in August, hitting a new peak after nearly four years. The ICO wallet may sell the 200 ETH and book profits, given the bearish market environment.

The crypto market has taken a beating over the last month. Ethereum (ETH) is also following the market downtrend. According to CoinGecko data, the second-largest crypto by market cap has fallen 0.7% in the last 24 hours, 11.6% in the last week, 14.6% in the 14-day charts, and 17.2% over the previous month.

Ethereum (ETH)’s current predicament could be due to a dip in ETF inflows. ETFs have played a major role in the current market cycle. Moreover, retail investors are likely moving away from risky assets, such as cryptocurrencies. The chances of another interest rate cut in 2025 have significantly diminished. The Federal Reserve’s cautionary outlook may have led to investors moving to safe havens, such as gold.

Also Read: Ethereum to $2.5K? How Bear Market Could Spur a 20% Decline

According to CoinCodex analysts, Ethereum (ETH) will break its current pattern over the coming week. The platform anticipates the asset to rally over the next few months, hitting a new all-time high of $5372.73 on Feb. 12, 2026. Hitting $5372.73 from current price levels will entail a rally of about 68.6%.