An address labeled an “Ethereum ICO whale” has staked 150,000 ETH, valued at approximately $646 million, after remaining inactive for three years according to Jina. The action reduces supply and signals confidence, with potential effects for liquidity and price. The move occurs during a period of greater institutional interest and inflows into products linked to Ethereum, according to the same data.
Context and Impact
The actor, who in 2014 acquired 1 million ETH for $310,000 according to Jina, has converted 150,000 ETH to staking, an amount equivalent to the operation Jina reports with an estimated value of $646 million. The decision is important because staking locks assets and could put upward pressure on the price by restricting the available supply, increasing attention on supply and demand.
Jina adds that staking rewards are estimated around 2.00 – 2.17%. Platforms like Lido but also Coinbase facilitate the process, with Lido applying a fee of approximately 10% on rewards. Staking here means locking ETH to validate the network and earn rewards. Doing so at the reported volume changes the liquidity of the holding but also affects the investment strategy of large holders.
The narrative of the case shows the convergence between early acquirers and institutional flows, Jina noted. According to the same data, the operation occurs with a period of greater institutional interest and inflows into products linked to Ethereum, which can increase the signal of confidence that the whale transmits and, in turn, can attract additional demand from investors who interpret the action as long term backing.
On-chain and Treasuries
In on-chain terms, the shift from prolonged inactivity to active staking suggests a strategic decision to capture validation income rather than to divest. Jina specifies that the operation is not simply a sale but a commitment to the security as well as governance of the network, because the staked ETH remain partly immobilized. This choice reduces immediate selling pressure and changes the asset’s availability horizon.
Implications
Potential effects include lower available liquidity, possible support for the price, and a confidence signal that may attract additional institutional flows. Leverage or derivatives were not reported in Jina’s information, and the immediate risk of forced liquidations cannot be assessed from the data. Users should consider that staking produces modest income and that immobilizing large amounts increases exposure to both price rises and declines.
- Staked amount: 150,000 ETH (~$646M) according to Jina.
- Estimated staking reward: 2.00 – 2.17% according to Jina.
- Lido fee on rewards: ~10% according to Jina.
- Historical origin – purchase of 1M ETH for $310,000 in 2014 according to Jina.
