Large ICO participant’s ETH sell-off increases volatility in the Ethereum market.
Ethereum sell-offs cause downward pressure, leading to price fluctuations.
Bearish momentum persists, with MACD negative and RSI below the neutral level.
An Ethereum ICO participant has been selling large amounts of Ethereum (ETH), causing a stir in the crypto market. Over the past two days, the participant has yet again sold 19,000 ETH, worth roughly $47.54 million.
This #Ethereum ICO participant sold another 19,000 $ETH($47.54M) in the past 2 days!
The participant received 150K $ETH(ICO cost was $46.5K, now worth $358M) at #GENESIS.https://t.co/WbaTNzh5T4 pic.twitter.com/p82RcPRYMd
— Lookonchain (@lookonchain) October 3, 2024
This follows a similar event in September, when the same participant transferred over 12,000 ETH, worth $31.6 million, to the Kraken exchange. These moves have caused market shifts and increased volatility in Ethereum’s price.
The Ethereum wallet, which received 150,000 ETH during Ethereum’s Genesis event, had been inactive for over two years before these transactions. The total value of ETH in this Genesis wallet was $46.5K, and it has grown to…
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