Endaoment has made a move to sell a record amount of Ethereum (ETH) after 10 months.
Endaoment, a charity operating on the Ethereum network, made the largest Ethereum sale to date by selling 3,690 ETH for $12.47 million in a single transaction between January 2-3.
According to Spot On Chain data, this transaction attracted attention as the foundation's first Ethereum sale in 10 months.
The assets sold came from an investor who participated in Ethereum’s ICO in July 2015. This investor purchased 100,000 ETH during the Genesis phase.
To date, this person has sold a total of 14,990 ETH at an average price of $2,409. 13,190 of these sales were made through Endaoment.
The investor in question currently holds 85,000 ETH (approximately $293.8 million) in two different wallets, which has caught the attention of investors in terms of the potential impact on the Ethereum market.
According to CoinGecko data, Ethereum, which has increased by 0.4% in the last 24 hours, is traded at $3,448 at the time of writing.