An early Ethereum investor who spent around $120 during the 2015 ETH presale has resurfaced after more than a decade of inactivity, moving 400 ETH – worth around $900,000 at current prices – in a transaction reported by on-chain intelligence platform Arkham on May 14, 2026.
The Ethereum Trade of a Lifetime
According to Arkham’s post on
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The initial return on investment amounts to more than 7,500 times, according to Arkham’s analysis, making it one of the most striking examples of what patient, early-stage participation can produce in the nascent industry.
The wallet address – 0xE0F372347c96B55f7D4306034bEb83266FD90966 – is publicly verifiable on Arkham’s blockchain intelligence platform, where transaction history confirms ETH holdings dating back to the pre-sale period and recent outbound activity consistent with the described transfers.
This guy turned $120 into $900,000 in one transaction.
He bought $120 worth of ETH during the Ethereum presale in 2015 and just moved it today. He sent 50 ETH to a new wallet and deposited 350 ETH to Bitstamp.
It took 10 years, but it grew more than 7,500 times. pic.twitter.com/3tusW682lB
-Arkham (@arkham) May 14, 2026
The macro backdrop behind the move
The timing of the transfer comes at a time of measured optimism for Ethereum in particular. According to the latest market update from QCP Capital, Bitcoin consolidated around $80,000, close to its 200-day simple moving average – absorbing ETF outflows and a slightly warmer-than-expected April CPI without losing the critical $80,000 level, suggesting bearish momentum is fading. As Bitcoin and Ethereum remain closely correlated risk assets, the stabilization of BTC has also provided a floor for ETH.
The QCP assessment defines the current environment as range-bound, with compressed volatility and positioning awaiting the next macroeconomic impulse. Key catalysts identified by the firm include weaker PPI data, constructive developments related to ongoing diplomatic engagement between the United States and China, and progress under the CLARITY Act, all of which could push Ethereum out of its current consolidation range.
IPC details are especially important for ETH holders. Although the headlines appear hawkish, QCP noted that housing costs – particularly owner-equivalent rent – drove most of the increase and likely reflect late adjustments to the BLS methodology rather than new demand-side inflationary pressure. A clearer reading of underlying inflation could support the case for possible rate cuts, a macroeconomic environment that has historically provided a tailwind for risk assets including Ethereum.
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This development marks a notable moment for long-term Ethereum holders who see the asset consolidating well below its August 2025 all-time high of $4,946. The presale investor who turned $120 into $900,000 chose this window to finally make his move – a move that, regardless of the macroeconomic uncertainty ahead, represents one of the most patient and profitable exits the Ethereum ecosystem has ever seen on-chain.
ETH's price records a small uptick since March 2026 as seen on the daily chart. Source: ETHUSD on Tradingview
At the time of writing, Ethereum is trading at around $2,336, holding above key support as the market awaits the next catalyst to determine whether the current consolidation resolves to the upside or requires another reset before the next leg higher.
Cover image of Grok, ETHUSD chart from Tradingview
