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.

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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.

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