Krutika Adani
On October 24, a 2014 Ethereum ICO participant sold off 3,000 ETH, valued at approximately $7.64 million.
On-chain data from Lookonchain reveals that this participant’s July sale of 7,000 ETH caused a 15% drop in ETH’s value, falling from $3,432 to $2,981 shortly after. As of now, ETH has already fallen by nearly 2.5% in the last 24 hours.
Several early Ethereum investors have been offloading their holdings recently.
Another ICO participant sold 19,000 ETH worth $47.5 million earlier this month after a 12,010 ETH sale in late September.