Ethereum whales sell as outflows hit four-month high of 169,770 ETH

Ethereum’s early investors have reportedly sold another 4,000 ETH across two wallets as Santiment has recorded the network’s largest daily net exchange outflow in more than four months. Summary 1,000 ETH reportedly sold came from an ICO participant who initially bought 100,000 tokens. 3,000 ETH worth $7.23 million moved from another early holder, according to Lookonchain. $18.79 million in AAVE and WLD reached exchanges from an institution inactive for over a year. 169,770 ETH left exchanges on a net basis, according to Santiment’s Oct. 23 analysis. Lookonchain identified the transactions in separate posts on Oct. 23 and Oct. 24, including a 1,000 ETH transfer from an investor who acquired 100,000 tokens during Ethereum’s initial coin offering at $0.31 each. A second post described 3,000 ETH worth $7.23 million sold by a holder whose purchase dated back nine years. Ethereum ICO holder moves 1% of original allocation In its Oct. 24 post, Lookonchain described the ICO participant as another early investor selling ETH and showed a 1,000 ETH transfer to an address labeled as a Kraken deposit. “Many Ethereum OGs are selling $ETH!” the tracker wrote. Based on the purchase figures in that...