PANews reported on April 25 that, according to on-chain analyst AI Yi, a whale that made millions of ETH during the 2015 ETH ICO has transferred 10,000 ETH, worth approximately $23.21 million, to the multisignature address 0x26c…B9392 after a week's absence. The market interprets this as a recent sell-off signal.

This receiving address is a commonly used transit address for whales. In the past two months, it has deposited a total of 12,001 ETH (approximately US$24.62 million) into OKX. Historically, almost all ETH transferred to this address has been transferred to exchanges and sold in batches.

This whale is an ETH genesis investor with a holding cost of only $0.31 per ETH. Historically, large transfers have been followed by sell-offs, and this latest operation further exacerbates market concerns about short-term ETH selling pressure.