Ethereum News Today: Ethereum ICO Whale Sells 13,600 ETH Worth $47M Amid Long-Term Liquidation

A prominent Ethereum (ETH) ICO-era whale has continued its long-term selling strategy, recently offloading 13,600 ETH valued at $47 million within a three-week period. The whale, historically one of the largest early holders of ETH, currently holds 59,718 ETH on-chain, worth approximately $210 million at current prices, signaling ongoing liquidation efforts that have spanned over a year [1].

The latest withdrawal occurred at an average price of $3,456 per ETH, which is higher than the recent market average, suggesting a deliberate and strategic approach to maximize returns. This selling activity aligns with broader patterns observed since the initial coin offering (ICO) era, as the whale has not engaged in any accumulation of ETH for over two years, steadily reducing its holdings from an initial 1 million ETH [1].

According to chain analyst AI Aunt, the continuous reduction in ETH holdings reflects a strategic exit rather than short-term trading. The whale’s actions indicate a cautious investment stance, likely influenced by market conditions and the need for portfolio diversification [1].

The whale's selling activity has implications for market liquidity and price dynamics. By increasing the ETH supply on exchanges, such large-scale sales could exert downward pressure on the price of ETH. Additionally, the actions of early investors often serve as a barometer of market sentiment, with large exits signaling potential shifts in investor confidence [1].

Despite these sales, the whale still maintains a substantial on-chain presence, holding 59,718 ETH. This large remaining stake means the whale still has the potential to significantly impact market movements should it choose to continue selling or alter its strategy [1].

The ongoing liquidation underscores a broader trend of long-term investors gradually exiting their positions, particularly in a market environment that has seen fluctuating prices and evolving regulatory landscapes. The whale’s behavior, as analyzed by on-chain data, offers insights into how early investors are managing their exposure to the cryptocurrency market [1].

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Source: [1] [Ethereum ICO Whale Sells 13,600 ETH Worth $47M Amid Long-Term Holding of 59,718 ETH](https://en.coinotag.com/breakingnews/ethereum-ico-whale-sells-13600-eth-worth-47m-amid-long-term-holding-of-59718-eth/)