Are Ethereum OGs jumping ship?
Here’s what the data says Long-term whales have cashed out millions of dollars from Ethereum following the recent sell-off, potentially putting ETH at risk of further losses
An early Ether (ETH) investor sold their ETH holdings over the past week as the price headed toward $2,000, sparking fears of further losses. However, onchain data tells a different story as traders speculate where ETH/USD might bottom. Key takeaways: – An early Ethereum whale sold $136 million in ETH, adding pressure as Ether trades below the $2,000 level. – Onchain data shows no evidence that older ETH investors are selling en masse. – Analysts warn the ETH price could fall further toward the $1,500 support.
Ethereum OG whale sells $136 million ETH An old Ethereum whale, an early investor holding tokens since the network’s first years, sold 55,000 ETH worth about $112.25 million and 9,442 ETH worth roughly $24 million over the past week. Related: Ether bears at risk of $2B squeeze as short positions build around $2K The early Ether investor offloaded a combined $136 million at an average price of $2,041 per ETH, according to blockchain data tracker Lookonchain. Selling by an old ETH wallet.