ETH Whale Updates: ‘OG’ Sells 612 ETH for $1 Million, Still Holds 29,577 ETH

COINOTAG News reports on April 15th that a prominent Ethereum investor, dubbed the “OG who bought 100,000 ETH during the 2015 ICO,” has made headlines once again. The investor recently liquidated 612 ETH, translating to approximately $1 million, at a staggeringly low cost basis of just $0.31. As it stands, this notable holder maintains a substantial reserve of 29,577 ETH, currently valued at around $47.98 million. If this selling pattern continues, with the investor offloading an average of 630 ETH every two days, it is projected that nearly three months will be required to exhaust the remaining Ethereum holdings. This activity underscores the ongoing shifts within the cryptocurrency market and highlights the strategies employed by long-term holders amidst fluctuating valuations.