Ethereum OG Moves 15,000 ETH to Coinbase After 10 Years: Is a Major Sell-Off Coming?

An early Ethereum investor has moved 15,002 ETH worth about $31 million to Coinbase after years of inactivity. The transfer comes as Ethereum trades near $2,000, down 3.5% in 24 hours, sparking concerns that a long-term holder may be preparing to take profits.

Meanwhile, well-known chart analyst Ali Chart predicts the Ethereum price to retest $1800 this week.

Ethereum OG Deposits 15,000 ETH to Coinbase After 10 Years

According to Arkham Intelligence, an early Ethereum wallet labeled 0xa2F6 transferred 15,002 ETH to Coinbase, worth about $30.97 million at current prices. The address had been inactive for nearly a year, and such exchange deposits are often seen as a sign of possible selling, which can create short-term market pressure.

The wallet dates back to Ethereum’s early days. The holder accumulated around 172,700 ETH in 2016, when prices were close to $12, giving the stash a value of roughly $2.2 million at the time.

At today’s prices, those holdings would be worth about $356 million. If the recently moved 15,000 ETH is sold, the investor could realize nearly $30.79 million in profit, marking an estimated return of around 17,680% over the past decade.

Ethereum Price Drops 3.5% Amid Gold Drop

As of now, Ethereum is trading near $2,000, marking a 3.5% drop in the past 24 hours. The decline follows a sharp fall in gold prices, which dropped to around $4,340, recording the biggest weekly decline in over 40 years. 

This move comes despite ongoing geopolitical tensions as the conflict between the US, Israel, and Iran enters its fifth week.

Chart Analyst Warns Of ETH Price Drop To $1800

Looking at the Ethereum weekly chart, Ali Martinez noted that Ethereum (ETH) is forming a long-term rising triangle on the weekly chart. The lower line of the triangle, called the trendline, is slowly going up and gives strong support. ETH recently touched around $2,156, bouncing from this trendline, showing buyers are defending it.

The top of the triangle, near $4,900, acts as strong resistance. If ETH breaks above $4,900 and holds, it could rise toward $10,000 in the next few years.

If ETH falls below the trendline, around $2,100–$1,800, it could drop further to $1,200, which is the long-term support.

Right now, ETH is near the bottom of the triangle, making it a good risk/reward point for buyers. The overall trend is still bullish, as long as ETH stays above the rising trendline.