Investor Who Bought Ethereum at $0.31 Sells Some Holdings for Estimated $2.38 Million Profit
An early Ethereum investor who bought ETH at $0.31 per token has sold another portion of the holdings.Lookonchain said on October 23 that an investor who participated in Ethereum’s initial coin offering sold 1,000 ETH that day. The investor bought 100,000 ETH during the ICO for about $31,000.The original purchase cost of the 1,000 ETH sold was just $310. Ethereum was trading at $2,380 on Binance’s USDT market, valuing the sale at about $2.38 million.Assuming the tokens were sold at that price, the estimated profit after subtracting the purchase cost was $2,379,840. That is about 7,677 times the initial investment.