An ethereum ICO participant sold another 19,000 eth in the last two days. This freshly unloaded stash is worth around $47.54 million at current prices.
This entity had previously received 150,000 eth during genesis at an ICO cost of only $46,500.
Dormant ethereum ICO Participant Resurfaces
As x.com/lookonchain/status/1841658980130816280″ target=”_blank” rel=”noopener” data-wpel-link=”external”>marked Conducted by on-chain transaction analytics platform Lookonchain, this sale follows a recent move in the last week of September when the same participant deposited 12,010 eth, valued at $31.6 million, on crypto exchange Kraken after be inactive for more than two years.
Initially, the investor's total eth holding was worth over $358 million at the current price before these major transactions.
The ethereum ICO took place between July and September 2014. A total of $18 million was raised. When ethereum went live in July 2015, early contributors received 80% of the tokens. Meanwhile, the rest went to the ethereum Foundation and the first members of the team.
Last month, an ethereum address broke its nine-year inactivity by x.com/lookonchain/status/1838757770449109124″ target=”_blank” rel=”noopener” data-wpel-link=”external”>depositing 5 eth on Kraken. Similarly, another long-inactive ICO participant x.com/lookonchain/status/1838027988539224539″ target=”_blank” rel=”noopener” data-wpel-link=”external”>transferred over $9 million worth of eth to the same exchange this year.
It is important to note that these transfers are quite rare. Despite this, the latest occurred amid growing fear, uncertainty and doubt (FUD) in the market as Ether prices suffered a sharp drop.
The world's largest altcoin by market capitalization has fallen almost 10% over the past week and is currently trading below $2,400. This drop has reignited criticism of ethereum, which has underperformed all year. Market commentators express concern over its price trajectory, with cryptocurrency trader 'Bluntz' x.com/Bluntz_Capital/status/1841677570632515615″ target=”_blank” rel=”noopener” data-wpel-link=”external”>observing in x,
“Alas, even the OGs from day 0 are abandoning ship.”
ethereum advocate Anthony Sassano, on the other hand, x.com/sassal0x/status/1841528465788465498″ target=”_blank” rel=”noopener” data-wpel-link=”external”>saying that FUD is “endless” while expressing his frustration, adding that “most people in this industry don't really care about the truth.”
“It's all incredibly exhausting.”
ethereum ETFs See Inflows
Institutional investors appear to be showing renewed interest in ethereum, as the nine Ether spot ETFs recorded inflows of $14.45 million on October 2, according to SoSoValue. eth-spot” target=”_blank” rel=”noopener” data-wpel-link=”external”>data.
BlackRock's ETHA led with $18.04 million, followed by Franklin Templeton's EZET, which attracted $1.81 million in inflows.
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