One of the early participants in the Ethereum initial offering has started moving again after years of silence! Since April 17, he has sold 16,500 ETH worth approximately $29.35 million, at an average price of about $1,779. And just today, he sold an additional 1,500 ETH worth $1.76 million.
The striking thing is that he still holds 13,500 ETH (approximately $24.82 million), which could increase selling pressure if he decides to continue liquidating.
The question now is: Is this just a portfolio rebalancing? Or is there an intention for a complete exit?
This on-chain movement is worth monitoring as it could impact the price of $ETH in the short term.