Ethereum ICO whale cashes out $60M after 9,500x gain as top 1% keep buying ETH
Despite the market downturn and some OG investors selling, the biggest Ether whales continue their steady accumulation, while Ether ETF buyer sentiment continues to improve.
While some Ethereum OGs are cashing out, the top 1% richest Ether holders continue to quietly accumulate the world’s second-largest cryptocurrency, despite the market downturn.
An Ethereum initial coin offering (ICO) participant sold another $60 million in Ether (ETH) on Wednesday after generating a 9,500-fold return on investment over the past 11 years.
During the ICO, the investor purchased their Ether for about $0.31 per token, spending a total of $79,000 on 254,000 Ether tokens, now worth over $757 million, according to blockchain data platform Lookonchain.