Ethereum-Linked Early Investor Sells 7,594 ETH Worth About $17.8 Million After a Year
An early investor linked to the Ethereum Foundation has broken roughly a year of trading inactivity with a large sale.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 spent about $61,000 during Ethereum’s initial coin offering in 2015 to acquire 200,000 ETH. The purchase price was about $0.31 per token.On-chain records also show the wallet later received an additional 42,654 ETH from the Ethereum Foundation. Ether was trading at about $13.82 a token at the time.The latest sale was executed at about $2,343 per ETH, roughly 7,500 times the investor’s ICO purchase price. The wallet’s exact relationship with the Ethereum Foundation and the reason for the sale were not confirmed.