Ethereum One of the last important developments in the ecosystem was the surprise sale of one of the first participants of the Initial Coin Offering (ICO). According to Spot on Chain, the investor in question exchanged 2,000 ETH for 6 million USDC. sold.
This incident attracted particular attention due to the historical context of the whale’s relationship with Ethereum. Records show that the whale first purchased 33,213 ETH during ETH’s Genesis ICO on July 30, 2015, at an ICO price of approximately $0.31 per token. Over time, some of the approximately 5,110 ETH were deposited on the Kraken exchange or liquidated through decentralized exchanges at an average price of approximately $2,545 per ETH, continuing to strategically manage its assets.
Moment #Ethereum #ICO participant returned to sell 2,000 $ETH for 6M $USDC at $2,997 6 hours ago.
Notably, the whale received 33,213 $ETH horse #Ethereum Genesis on Jul 30, 2015, at an ICO price of ~$0.31. So far, 5,110 $ETH has been deposited to #kraken or sold via DEX at ~$2,545.… pic.twitter.com/cYpyqlPGWT
NEWS CONTINUES BELOW— Spot On Chain (@spotonchain) April 18, 2024
Despite the recent sell-off, the whale still maintains a significant balance of 29,700 Ethereum, with a value of approximately $89.4 million distributed across three wallets, primarily staking platforms.
The appearance of such former owners is often cryptocurrency It leads to scrutiny and speculation in the market. Historical data shows that large sell-offs by early investors can affect market dynamics and contribute to increased volatility.
Interestingly, the sell-off coincided with a period of decline in Ethereum’s price, dropping below $3,000 per ETH. Since the beginning of the week, ETH has fallen 9% from its recent peak of around $3,300.
