Trusted

Ethereum ICO Participant Has Been Selling off 300K ETH for the Past Few Months

2 mins
Updated by Kyle Baird
Join our Trading Community on Telegram
An Ethereum HODL’r since the ICO days seems to be running out of patience. For whatever reason, this address has sold some 300,000 ETH since the 2015 ICO.
One investor since the ICO days on Ethereum seems to be cashing out. A strange movement of funds has been recorded from the address in the past few days.

ICO Investor Sells Off Some Holdings

The movement of funds from an early Ethereum ICO participant is causing some worry. Over the course of the last few months, the account has moved some 300,000 ETH to exchanges. Around 6 days ago, it moved another 60,000 ETH out of this wallet. The transfers were first pointed out by Alex Svanevik (@ASvanevik) on Twitter. The Ethereum account currently still holds a significant amount of Ether, however: 258,899 ETH.

Concerns Over ETH 2.0 Delays Grow

The news comes at a time when Ethereum has had some persistent difficulties to wrestle with, especially when it comes to scaling. The leading smart contract platform has taken a tumble in the past few days and is currently trading at $123, being down -6% on the daily. The bearish market and the movement of funds from this ICO-participating address has compounded worries that Ethereum may further stall the roll-out of ‘Ethereum 2.0.’ In a recent official blog post reported on by BeInCrypto, the team said that the Ethereum 2.0 would take “many years” to fully implement. Phase 0 of Ethereum 2.0. is still planned for Q1 2020, but it will not support transactions. Only staking will be possible and the staked funds will be frozen. Ethereum With further delays to Ethereum 2.0, the recent ETH movements from this ICO-related address is concerning. This account has held throughout the 2017 bullish rise which saw Ethereum explode past the $1,000 mark. With it tittering on the edge on the market, this is a peculiar moment to cash out if you invested during the ICO—it seems that this particular individual just simply ran out of patience.
Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024
Coinbase Coinbase Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
3Commas 3Commas Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | November 2024

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

images-e1706008039676.jpeg
Advertorial
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
READ FULL BIO
Sponsored
Sponsored