Institutional Investor Unloads 109806 ETH for $266 Million
An institutional investor has made significant moves in the Ethereum market by transferring 109806 ETH to various cryptocurrency exchanges (CEX) over a three-day period. The transfer was valued at $266 million, with an average price of $2430 per ETH.
The holdings originated from acquisitions between 2021 and 2022, when ETH prices were around $1700 per coin. This accumulation has led to a potential profit of $122 million if the investor chooses to liquidate their entire position.
The large-scale sale highlights ongoing institutional selling pressure on Ethereum following staking withdrawals.