An Early Ethereum Investor Made $5459 into $55 Million

Early Ethereum (ETH) ICO participants had purchased around $5459 worth of ETH at Genesis. Today, the value of 17600 ETH has risen to more than $55million. Investment has increased by 149X. Since April 2021, the investor has sold 50.11 millions worth of ETH. In the wallet of the investor, there is still $5.85 Million worth of ETH.

Why Is the Investor selling?

Participants to the ETH ICO may have made profits in recent years. The feeling of turning $5k in to more than $55 millions is not ordinary. Investors may have considered liquidating their investments and living the dream. Why would you want to have all of that money, if not live some?

The ETH ICP investors may have also diversified their investment portfolio. It is possible that they have acquired other assets, after having sold more than 50 million dollars worth of Ethereum.

Ethereum’s Price Continues to Slump

ETH struggled in recent months to gain momentum. It was only in February that the asset traded over $3000. ETH is currently facing significant resistance at $2500.

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The price of ETH has decreased. dipped In the past 24 hours the price has increased by 0.5%, in 14-day charts it is up 3.6%, in previous months, its value was 1.8%, while the overall market cap of the cryptocurrency has been increasing 29.1%. Over the last seven days, market-cap second cryptocurrency maintained its 0.5% increase.

ETH’s spot ETF has consistently seen institutional inflows. Inflows are not enough to push the price of the asset above $2500. Bitcoin (BTC), too, has seen consecutive weeks of institutional inflows. BTC has had a more positive price rise.

Crypto market appears to be consolidating right now. BTC has been facing resistance near $108,000. BTC’s consolidating may be the reason for the slowdown in market.