A massive crypto whale who participated in Ethereum's initial coin offering (ICO) in 2016 continued to sell ETH today, according to cryptocurrency onchain data.
Data shows that the whale, who was one of the early Ethereum investors, sold 1,500 ETH worth $1.76 million.
The whale wallet, which woke up from a long dormant period on April 17, sold 16,500 ETH worth $29.35 million at an average price of $1,779 and still holds 13,500 ETH worth $24.82 million in its wallet.
As is known, ETH coins were offered for sale at a price of $ 0.311 in ETH's initial coin offering event. In other words, this ancient cryptocurrency whale purchased the ETHs he obtained in the millions of dollars by only paying approximately $ 9,000.
ETH has been criticized from time to time for not having a fair start due to this initial coin offering. At that time, Ethereum, which had a Proof of Work mechanism, developers obtained a significant amount of coins through mining before the launch and used them in the initial coin offering sale.
*This is not investment advice.
