An Ethereum ICO Participant Has Sold 30K ETH In The Past Few Months

In the past few days, an abnormal movement of funds was reported when the ICO participant was cashing out on Ethereum since the ICO days. Unlike some of the past ICOs, one of the participants of Ethereum ICO seems to have gotten impatient as he has sold about 30K Ethereum in the last few months.

The ICO participant Sold Some Holdings

This unusual movement of funds caused by an early Ethereum ICO participant is a significant problem. Over the last few months, the account was recorded to move around 300,000 ETH to exchanges. Six days ago, it moved another 60,000 ETH out of this wallet.

ETH 2.0 Delay Growth Concerns

The incident has come to notice when the Ethereum is itself struggling consistently in terms of scaling. The Ethereum platform has gone down in the past few days, and at present, it is trading at $123, declining by 6% daily. The movement of funds from this Ethereum ICO participants account’s address and the bearish market has caused worries, as it can stop the growth of Ethereum 2.0.

BelnCrypto’s Report

According to a recent official blog post by BeInCrypto, their team has analyzed that Ethereum 2.0 would take several years to be implemented completely. Ethereum 2.0’s Phase 0 is planned for the first quarter of 2020, but it will not provide any support for transactions. The staked funds will be frozen while staking will be possible.

This recent Ethereum movements, together with further delay in Ethereum 2.0, is a significant problem. This Ethereum ICO participant’s account had held successfully throughout the 2017 bullish rise when Ethereum exploded past the $1,000 mark. Presently, the market has slumped down slowly, and it is high time to cash out if you have your funds invested in the Ethereum ICO. While the latter half of 2017 saw a bullish trend in the crypto sector, much of 2018 was marked by a bearish slowdown. Although the industry has begun to pick up in 2019, many altcoins, including Ethereum, continue to reel under the slowdown.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

An Ethereum ICO Participant Has Sold 30K ETH In The Past Few Months

Sandeep Kumar Mishra

Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.