Key Highlights:
- An ether investor, who acquired ETH back in 2016, has sold a large part of their holdings on Thursday.
- Previous significant sales occurred during market downturns in 2022 and 2023.
- Recently, ETH experienced a rebound of 8.2% following President Trump’s decision to pause tariffs.
Ether (ETH) dropped to its lowest level in two years at $1,412 this week, prompting a long-time holder to divest most of their assets purchased at approximately $8 in 2016. Analyzing on-chain data, it was found that the mentioned wallet exchanged 14,015 ETH for $22 million USDC over a span of 15 hours via the Uniswap decentralized exchange.
The investor also sold 6,630 ETH in May 2022 and 4,035 ETH in June 2023, each transaction coinciding with major market declines. This particular instance was similar, with ETH having just fallen from a cycle high of $4,000 last December. Currently, they still retain 521 ETH valued at around $830,000.
The market has reacted positively, with ETH trading at $1,598—a significant 8.2% increase within the past 24 hours. The trading volume surged 25% to $33 billion, fueled by growing optimism as a result of U.S. President Trump’s tariff pause.
