Investor from Ethereum’s ICO Sells Nearly $30 Million Worth of ETH After Years of Dormancy

Analysis from blockchain tracker Lookonchain has revealed that an investor who participated in Ethereum’s initial coin offering (ICO) has suddenly become active in the market, selling off nearly $30 million worth of ETH in just a few weeks.

Unloading Thousands of ETH

According to Lookonchain’s post on X, the Ethereum holder had been dormant for quite some time before waking up to unload thousands of ETH in a short period. The entity has been sending its coins to the crypto exchange Kraken, presumably to be sold.

As of now, ETH is trading at $1,830, showing a 4.8% decrease for the day.

Trump Memecoin Holders Offloading Assets

Lookonchain also discovered that deep-pocketed holders of the Official Trump (TRUMP) memecoin are selling off their assets at a loss. Two whales dumped a significant amount of TRUMP, resulting in losses of millions of dollars.

TRUMP is currently trading at $11.00, showing a 4.55% decrease in the last 24 hours.

Whale Goes Long on Bitcoin and Altcoins

On a positive note, Lookonchain identified a whale who has taken long positions on Bitcoin (BTC) and various altcoins, including ETH, leading to profits exceeding $9 million. The whale also bought a substantial amount of BTC at a profitable average price.

Follow us on X, Facebook, and Telegram for more updates.

Stay tuned for more price action and market insights from The Daily Hodl.

Generated Image: Midjourney