Early Ethereum Wallet Cashes Out with $8.8M Profit

An early Ethereum wallet has sold another 1,000 Ether (ETH) for approximately $2.68 million, bringing its total sales to 2,000 ETH. This sale comes as Ethereum records a 69.7% gain in the third quarter, outperforming its return of 59.2% in the same period last year.

The wallet initially acquired 3,000 ETH at an average price of $18.80, spending around $56,500. It has now sold 2,000 ETH for a combined $6.19 million and retains 1,000 ETH valued at roughly $2.67 million.

The total profit from this position is estimated to be approximately $8.8 million, representing a 156-fold return on the original investment. This calculation includes the value of the unsold ETH and does not represent realized proceeds from the 2,000 ETH already sold.