Crypto trader who turned $6.2K into $86M makes shocking move originally appeared on TheStreet .
On-chain data suggests that a crypto trader who received 20,000 Ethereum during the initial coin offering (ICO) has transferred a portion of it to the Kraken crypto exchange.
The on-chain data intelligence platform Lookonchain made a post on X on Aug. 11, which showed that the Ethereum ICO participant sold 2,300 ETH worth $9.91 million on the day.
The crypto trader had earlier also transferred their ETH holdings over the past few years.
As per Etherscan , the ICO participant is now left with 1,622 .77 ETH worth $7.59 million.
Nonetheless, they were successful in turning ETH worth $6,200 at the time of ICO into a crypto stack now valued at $86.6 million — all due to the much-required patience and the appreciation in the crypto asset's price.
Launched in July 2015, Ethereum is the world's second-largest cryptocurrency, which has a market cap of more than $565 billion. The underlying blockchain network has become a reliable platform for decentralized applications (dApps), including those dedicated to decentralized finance (DeFi) and decentralized autonomous organizations (DAOs).
Of late, we have witnessed a wave of crypto treasury firms choosing ETH as the preferred treasury asset. Similar to the leading Bitcoin treasury firm called MicroStrategy (Nasdaq: MSTR), we have seen the emergence of the leading Ethereum treasury firm Bitmine Immersion (Nasdaq: BMNR).
The exchange-traded funds (ETFs) linked to ETH have also seen a remarkable surge in inflows recently.
The recent Ethereum bull run is part of the broader crypto market rally that saw Bitcoin hitting a new record price in mid-July. The emergence of ETH treasury firms and rising ETF inflow have provided a further push to its price.
Ethereum is trading at $4,714.50 at press time, only 3.5% lower than its record high of $4,891.70 that it reached on Nov. 16, 2021.
Disclaimer:The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
Crypto trader who turned $6.2K into $86M makes shocking move first appeared on TheStreet on Aug 13, 2025
This story was originally reported by TheStreet on Aug 13, 2025, where it first appeared.
