Ethereum OG Who Banked 803x Returns Is Buying the ETH Dip Again!

An early Ethereum investor — who turned a $38,000 entry into $30.5 million — has started accumulating ETH again after the recent market selloff. On-chain data shows the wallet has deployed 4.26 million USDC to buy 1,951 ETH at an average of roughly $2,182, with analysts noting the buying may not be finished.

The backstory adds weight to the signal: ten years ago, this wallet received 11,005 ETH from ShapeShift at just $3.46 per token. Over a year ago, the position was exited at $2,777 per ETH, locking in $30.5 million in profit — an 803x return on the original cost basis.

The same hand that sold near the cycle peak is now re-entering at a significant discount, a move that on-chain watchers tend to treat as a high-conviction directional signal rather than noise.