October 1, 2022

Ethereum ICO participant withdraws 320,000 ETH coins from wallet

Ethereum ICO participant withdraws 320,000 ETH coins from wallet

An unknown participant in the Ethereum cryptocurrency ICO (ETH) withdrew 320,000 ETH coins from his wallet in the last three months. The investor has been storing assets since 2015, but for some reason decided to get rid of them.

The Etherscan Block Explorer indicates that withaddress (0x51f9C432A4e59aC86282D6ADaB4c2EB8919160EB), which was used to receive coins purchased during the ICO, the first withdrawal of virtual currency was carried out on September 25. In total, the warehouse owner completed seven transactions ranging from 48,000 to 63,200 ETH. The last transfer of $ 7.9 million was made on December 12 to a smart contract created in March 2019.

On December 16, the Ethereum rate fell by 7.9% (from$ 140 to $ 129). Compared with the annual peak value reached on June 25 ($ 335), the asset fell almost 2.5 times. Therefore, many members of the crypto community had a hypothesis that the hodler lost their nerves, and he decided to sell coins, fearing a further fall in prices.

Ethereum creator Vitalik Buterin recentlyreported that he sold 30,000 coins at the end of 2017, when the value of the coin reached its maximum. Buterin also managed to convince Ethereum Foundation employees to exchange 70,000 ETH for dollars at the end of 2017 and the beginning of 2018. As a result, Vitalik’s profit was $ 22 million, and the Ethereum Foundation earned $ 100 million.