According to data provided by cryptocurrency analytics platform Lookonchain, an Ethereum (ETH) initial coin offering participant recently liquidated $12.2 million worth of ETH.
Since late September, the whale has already liquidated 45,000 ETH. Despite going on such a massive selling spree, the gargantuan whale continues to hold a staggering $230 million worth of ETH.
The whale initially emerged from hibernation in late September after two years of inactivity.
Godfrey BenjaminThe ICO participant initially received a whopping 500,000 ETH at the genesis stage. Back then, close to 72 million tokens were distributed to those who contributed to the project.
In other news, a wallet linked to the Ethereum Foundation recently deposited 2,500 ETH (roughly $6 million) to the Bitstamp exchange 20 minutes ago. The wallet initially received more than 51,000 ETH tokens from the foundation back in 2015.
Godfrey Benjamin
Yuri Molchan
Dan Burgin
Vladislav Sopov
U.Today Editorial Team