Ethereum ICO Whale Deposits 5,000 ETH to Exchange, Raising Sale Prospect
Summary
- An early large investor in Ethereum's initial coin offering, or ICO, deposited 5,000 ETH into an exchange, raising the prospect of a sale.
- The 5,000 ETH moved to the exchange this time was worth about $2,320 per token, more than 400 times the investor's earlier sale price.
- The investor's remaining holdings stand at 45,000 ETH, worth about $105 million, though it has not been confirmed whether an actual sale took place.
Forecast Trend Report by Period
An early large investor in Ethereum's initial coin offering has moved part of its holdings to an exchange, raising the prospect of a sale.
On-chain analyst EmberCN said on Oct. 27 that the investor deposited all 5,000 ETH into an exchange about three hours earlier, after transferring the tokens out two days before. The holdings were valued at about $11.59 million at the time of that transfer.
The investor is known as an early backer who invested about $31,000 in Ethereum's 2015 ICO and received 100,000 ETH.
About 10 years ago, the investor sold 50,000 ETH at $5.47 each. The 5,000 ETH moved to the exchange this time was worth about $2,320 per token, more than 400 times the earlier sale price.
The investor's remaining holdings stand at 45,000 ETH, worth about $105 million.
It has not been confirmed whether the exchange deposit resulted in an actual sale. Large cryptocurrency transfers to exchanges are generally interpreted as a potential sell signal.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.