Ethereum OG Sells $136M in ETH — Could Ether Fall to $1,500?

An early Ethereum investor sold $136 million in ETH over the past week as the price neared $2,000. Blockchain tracker Lookonchain shows the wallet offloaded 55,000 ETH (about $112.25 million) and 9,442 ETH (roughly $24 million) at an average price of $2,041 per token.

Onchain HODL waves do not point to a broad exodus by long-term holders. The share of supply held by older cohorts has generally risen over the past year; the 5y–7y cohort ticked up to 9% from 8.59% on May 19. Shorter-term cohorts have shed supply—the 3m–6m slice fell to 9% from 13.5% and the 1w–1m band dropped to 2.6% from 4.76%—suggesting most turnover is among recent holders.

ETH has been oscillating around the $2,000 level since Thursday, trading at $1,980 at the time of writing, down 2% in 24 hours and 6.5% on the week. "This doesn't look good for Ethereum," analyst Alex Marzell wrote on X, adding: "Momentum continues to favor the bears as $ETH moves closer to the next key support area." Analysts warn a deeper correction could follow if key supports fail.

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