An Ethereum initial coin offering (ICO) buyer who bought 100,000 ETH at $0.31 each just moved another 1,000 ETH, worth about $2.4 million, to Kraken.

Onchain sleuths picked up on the move earlier today , highlighting that an Ethereum OG who bought 100,000 ETH at $0.31 each during the ICO has now sold 1,000 ETH. Blockscout records show the wallet sent the coins on Oct. 23 at 19:29 UTC to an intermediate address, which forwarded all 1,000 ETH to a Kraken hot wallet three minutes later.

With ether trading near $2,377 , that batch is worth about $2.38 million and at ICO rates the gain now stands at over 7,600x.

The coins trace back to the Ethereum crowdsale during the summer of 2014, when buyers could get up to 2,000 ETH per BTC, equal to roughly $0.31 per ether with bitcoin near $400 at the time. The sale ran for 42 days, from July 20 to Sept. 2, and sold almost 60 million ETH for 31,529 BTC, or about $18 million. In other words, this one buyer took home roughly 0.17% of everything sold.

Here is how the wallet has behaved since, based on its transaction history:

The main wallet still holds about 11,349 ETH, worth roughly $27 million at current prices. The pattern doesn’t look like a panic move but more like someone who has been taking profits into strength for nearly a decade.

Just twenty-four hours ago, Bitcoin.com News reported on an Ethereum OG who bought 3,000 ETH at $18.83 nine years ago and cashed out $7.23 million, a 128x return. However, the sales come at an awkward moment for ether, given that the broader market is under pressure, with bitcoin’s price slipping below its 50-day moving average and $318 million in long positions liquidated in 24 hours.

Corporate demand may also be peaking, with Bitmine chair Tom Lee saying the company will stop buying once it owns 5% of ETH supply.

That said, what makes these whale movements worth watching is who is selling because when several of these entities move at the same time, traders can read the transfers as early holders decifing the current range if good enough.

Ethereum developers have their own headaches, after delaying Glamsterdam testing over contract concerns, but for the time being, the 2014 buyer still has more than 11,000 ETH left, and the market will be curious to see the next transfer to Kraken (or any other centralized venue).

An early ether buyer who paid just $18.83 per coin nine years ago has sold 3,000 ETH worth about $7.23…