An Ethereum ICO participant has sold another 19,000 ETH over the past two days. This freshly offloaded stash is worth around $47.54 million at the current price.<\/p>\n
This entity had previously received 150,000 ETH during the genesis at an ICO cost of just $46.5K.<\/p>\n
As flagged<\/a> by on-chain transaction analytics platform Lookonchain, this sale follows a recent move in the last week of September when the same participant deposited 12,010 ETH, valued at $31.6 million, to the crypto exchange Kraken after being dormant for over two years.<\/p>\n Initially, the investor\u2019s total ETH holding was worth more than $358 million at the current price before these significant transactions.<\/p>\n The Ethereum ICO took place between July and September 2014. A total of $18 million was raised. When Ethereum went live in July 2015, early contributors were given 80% of the tokens. Meanwhile, the rest went to the Ethereum Foundation and early team members.<\/p>\n Last month, an Ethereum address broke its nine-year dormancy by depositing<\/a> 5 ETH into Kraken. Similarly, another long-dormant ICO participant transferred<\/a> more than $9 million in ETH to the same exchange this year.<\/p>\n It is important to note that these transfers are quite rare. Despite this, the latest one occurred amid rising fear, uncertainty, and doubt (FUD) in the market, as Ether prices took a sharp downturn.<\/p>\n The world\u2019s largest altcoin by market cap has dropped nearly 10% over the past week, currently trading below $2,400. This decline has reignited criticism of Ethereum, which has underperformed throughout the year. Market commentators are expressing concern over its price trajectory, with crypto trader \u201cBluntz\u201d noting<\/a> on X,<\/p>\n \u201cyikes, even day 0 eth OG\u2019s are jumping ship.\u201d<\/p>\n Ethereum advocate Anthony Sassano, on the other hand, said<\/a> that the FUD is \u201cnever-ending\u201d while expressing his frustration and added that \u201cmost people in this industry don\u2019t actually care about the truth.\u201d<\/p>\n \u201cIt\u2019s all so incredibly tiring.\u201d<\/p>\n Institutional investors seem to be showing renewed interest in Ethereum, as the nine spot Ether ETFs saw $14.45 million in inflows on Oct. 2, according to SoSoValue data<\/a>.<\/p>\n BlackRock\u2019s ETHA led with $18.04 million, followed by Franklin Templeton\u2019s EZET, which attracted $1.81 million in inflows.<\/p>\n The post Ethereum ICO Whale Sells 19,000 ETH Worth Over $47M Amid Market FUD<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" An Ethereum ICO participant has sold another 19,000 ETH over the past two days. This freshly offloaded stash is worth around $47.54 million at the current price. This entity had previously received 150,000 ETH during the genesis at an ICO cost of just $46.5K. Dormant Ethereum ICO Participant Resurfaces As flagged by on-chain transaction analytics […]<\/p>\n","protected":false},"author":0,"featured_media":11263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11262"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11262"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11263"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ethereum ETFs See Inflows<\/h2>\n