PANews reported on August 7 that on-chain analyst Yu Jin posted on the X platform that tonight there was news about a large amount of ETH being transferred from dormant wallets related to Plus Token. After checking the on-chain data, there are a few pieces of information for your reference:
Most of these 789,534 ETH entered the Bidesk exchange through multiple addresses from June to September 2021 (this exchange went bankrupt at the end of 2021), and then were withdrawn from Bidesk and transferred to Huobi. Among them, 268,843 ETH entered Bidesk through only the four Bidesk deposit addresses shown in the figure below.
Roughly tracking down about 12 addresses that have collected Plus Token-related ETH in the last 30 hours, a total of 25,757 ETH (about 63.1 million US dollars) have been collected. Some of these ETH were not transferred to Bidesk in 2021; some were withdrawn from Bidesk but not transferred to Huobi.
Rough conclusion: Most of these 789,534 ETH should have been sold in 2021, and what is currently being collected is a small portion that was not sold in 2021.
