Disappointed Ethereum whales continue to get rid of coins, thereby burying the hopes of ordinary members of the crypto community for a resumption of the bull rally.

According to research firm Lookonchain, from June 16 to June 17, two large whales sold ETH:

An ICO participant who bought 2,000 ethers ten years ago for just $620 showed activity for the first time and transferred the acquired coins to the Binance exchange, which are now worth $5.13 million;

Another investor, who started investing in ETH seven years ago, decided to sell coins for the first time in the last two years and sent 501 ETH worth $1.29 million to the Kraken platform.

Unlike the ICO participant who got rid of all coins, the wealthy digital asset owner who transferred ETH to Kraken still holds 8,052 ethers worth $20.77 million. Therefore, it can be assumed that he has not written off the cryptocurrency and hopes for its price increase in the distant future.