Ethereum-Linked Early Investor Sells 7,594 ETH Worth About $17.8 Million After a Year
Summary
- An early investor linked to the Ethereum Foundation sold 7,594 ETH for the first time in about a year.
- The sale was worth about $17.79 million.
- The investor generated about a 7,500-fold return, buying Ether at about $0.31 during the ICO and selling it at about $2,343 per token.
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An early investor linked to the Ethereum Foundation has broken roughly a year of trading inactivity with a large sale.
On-chain analytics firm Lookonchain said on Oct. 27 that 7,594 ETH was recently sold from a wallet tied to an early investor associated with the Ethereum Foundation. The sale was worth about $17.79 million.
The investor is believed to have spent about $61,000 during Ethereum’s initial coin offering in 2015 to acquire 200,000 ETH. The purchase price was about $0.31 per token.
On-chain records also show the wallet later received an additional 42,654 ETH from the Ethereum Foundation. Ether was trading at about $13.82 a token at the time.
The latest sale was executed at about $2,343 per ETH, roughly 7,500 times the investor’s ICO purchase price. The wallet’s exact relationship with the Ethereum Foundation and the reason for the sale were not confirmed.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.