A significant player in Ethereum‘s ICO history has recently made headlines by selling a large amount of Ether tokens. This person, as revealed by Spot on Chain, offloaded 2,000 ETH, which is equivalent to approximately 6 million US Dollar Coin (USDC). This transaction has generated buzz throughout the cryptocurrency sector.
The historical significance of this whale’s actions with Ethereum cannot be overstated. Back in July 30, 2015, during Ethereum’s first Initial Coin Offering (ICO), the whale purchased a substantial amount – 33,213 ETH – at an ICO price of around $0.31 per token. Since then, they have skillfully handled their investments, moving about 5,110 ETH between Kraken exchange and decentralized platforms, selling or exchanging them for an average price of roughly $2,545 each.
In spite of the recent drop in price leading to the sale of some Ethereum, this large investor, or “whale,” holds about 29,700 ETH, worth roughly $89.4 million, spread across three different wallets. Majority of these tokens remain invested in staking platforms.
When old-time owners of cryptocurrencies suddenly appear, it sparks curiosity and debate in the digital currency world. Past trends indicate that significant sales from initial investors could impact market behavior and heighten price fluctuations.
It’s worth noting that the drop in Ethereum’s price to under $3,000 per ETH occurs concurrently with a sell-off. Over the past week, Ethereum has seen a decrease of approximately 9%, moving away from its previous high of around $3,300.
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2024-04-18 11:37