Ethereum ICO participant sells 23,000 ETH in one week amid renewed activity

Key Takeaways

• An Ethereum early participant sold 23,000 ETH in one week amid market volatility.
• The wallet originally received 254,908 ETH in 2014, now valued at $757 million.

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An Ethereum early participant sold another 3,000 ETH worth $8.4 million today, bringing total sales to 23,000 ETH in approximately one week, according to blockchain analytics firm Lookonchain.

On November 26, the investor, identified by the wallet address starting with “ 0x2eb0 “, sold 20,000 ETH valued at about $58 million via FalconX for the first time in eight months. The wallet originally received 254,908 ETH at $79,000.

The latest sale comes amid recent volatility in the crypto market, which saw Ethereum drop to a several-month low of $2,680. At press time, the asset was trading at $2,824, down 2% over the past week, per CoinGecko.