Ethereum OG Dumps $136M in ETH and wstETH in One Week!

An early Ethereum wallet — flagged on-chain as an OG holder — offloaded 55,000 ETH worth approximately $112.25 million and 9,442 wstETH worth roughly $24 million over the past seven days, bringing the combined exit to around $136 million at an average price of $2,041 per ETH.

Large-scale selling from long-term holders carries a different weight than exchange-driven liquidations: these wallets typically have near-zero cost basis, meaning the exit is discretionary rather than forced. When an OG chooses to reduce exposure at current prices, it signals a conviction call on near-term upside — or a rotation out of ETH entirely.

The wstETH component adds another layer: unwrapping and selling staked ETH means the seller is also exiting yield-bearing exposure, not just spot.