Early Ethereum Investor Linked to Foundation Sells 7,594 ETH Worth About $17.8 Million After Yearlong Pause
Summary
- An early investor linked to the Ethereum Foundation sold 7,594 ETH after about a year of inactivity.
- The tokens sold were worth about $17.79 million.
- The sale price was about $2,343 per token, or roughly 7,500 times the ICO purchase price.
Forecast Trend Report by Period
An early investor linked to the Ethereum Foundation has resumed selling after roughly a year without any transactions.
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 acquired 200,000 ETH during Ethereum’s 2015 initial coin offering for about $61,000. That implies a purchase price of about $0.31 per token.
Records also show the wallet later received an additional 42,654 ETH from the Ethereum Foundation. Ether was trading at about $13.82 per token at the time.
The latest sale was executed at about $2,343 per ETH, or roughly 7,500 times the ICO purchase price. The exact relationship between the wallet and the Ethereum Foundation, as well as the reason for the sale, has not been confirmed.
