Dormant for two years, Ethereum OG dumps remaining holdings amid selloff…worth about $20.10 million

Suehyeon Lee

Summary

A dormant Ethereum OG wallet inactive for two years reportedly sold its entire position during the recent market selloff.
The wallet said it sold 8,691 ETH (about $20.10 million) in a distributed manner via two wallet addresses.
The long-term holder’s decision to offload even its remaining holdings during heightened volatility is being read as a sign the recent downturn is encouraging exit selling.

A large Ethereum holder that had been inactive for an extended period appears to have liquidated all remaining holdings during the latest market downturn.

According to Lookonchain on the 1st (local time), an Ethereum OG wallet that had shown no activity for two years sold all 8,691 ETH (about $20.10 million) it held amid the recent selloff.

The tokens were confirmed to have been sold in a distributed manner via two wallet addresses (0x660c, 0x6742). With a long-term holder clearing even its remaining position as volatility intensified, some interpret the recent downturn as prompting exit selling by holders who bought near the top.

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