13,330 ETH Transferred to Coinbase and 6,369 Deposited at Kraken in October
Key Facts
A wallet linked to an early Ethereum purchase transferred 13,330 ETH to Coinbase on October 5, 2026, after about six months of inactivity, according to TokenPost. The outlet estimated the deposit was worth about $36.37 million, at a price of $2,728.59 per ETH at the time of the transfer. In a separate transaction, an address described as belonging to an early holder deposited 6,369 ETH at Kraken on October 14, valued at about $15.95 million. TokenPost reported that the deposit arrived about 40 minutes before 5:56 a.m. Eastern Time, or 09:56 UTC. The two transactions show large amounts moving to centralized exchanges on different dates, but a deposit alone does not prove that a sale was executed.
According to TokenPost, the reported Coinbase wallet acquired ETH at a cost of $11.61 per token. The report estimated that if the entire amount had been sold at the deposit price, the hypothetical profit would have exceeded $36.21 million, with a return of about 23,402%. That remains an estimate based on a sale at that price, not confirmation that the wallet owner sold the coins or realized those gains. The Kraken address, which the report abbreviated as 0x8AC...aA93, was said to have acquired ETH for $14 nine years ago. The report described its owner as an early holder, without saying that the address had remained dormant for nine years.
In EL7 data, ETHUSD closed at $2,389.14 on October 22, then at $2,396.29 on October 23. Both closes came after the deposit dates, and the data do not link them to the transfers. The CoinDesk Ether Price Index registered $2,391.28 on October 23, up 0.32% on the day. The two readings provide price snapshots for the same day from different sources. Neither establishes that the Coinbase or Kraken deposit caused a price move.
The transfers came amid coverage of other moves linked to early ETH holders. On October 12, two wallets linked to an early Ethereum Foundation distribution deposited 4,393 ETH at Kraken, worth about $11.13 million, according to Investing.com. The report quoted on-chain analyst EmberCN as saying the wallets were linked to a historical allocation of 59,751 ETH from a foundation wallet about a decade ago. By October 15, 49,751 ETH from that balance had reached Kraken at an average price of about $658. Investing.com noted that the October deposit does not in itself prove the coins were sold.
Investing.com said concerns about selling raised by the Kraken deposit came at a time when ETF flows and a slowdown in treasury-company purchases were a bigger concern for analysts. In a market report published on October 23, Nexo said Ether options trading indicators leaned toward hedging, with put options leading the top positions by volume. These included a $2,200 strike put option expiring on October 26, but the report did not identify the buyers. These remain separate indicators from the wallet transactions reported in October. The presence of coins on an exchange alone does not show whether their owners intend to sell them.
On the network front, the Ethereum Foundation announced on October 22 that it had postponed the Glamsterdam upgrade on the Hoodi testnet, which had been scheduled to activate on October 26, without setting a new date. The foundation said developers decided to delay it to allow further investigation into EIP-8037 interactions with smart contracts on the mainnet. It clarified that the announcement concerns Hoodi and does not set a date for the mainnet upgrade. It added that the mainnet activation date would be announced separately, and that the update requires no action from mainnet users or ETH holders. The scheduled Hoodi test activation was therefore canceled, with no new activation date announced.