Early Ethereum ICO Investor Begins Reducing Holdings

An early investor in the Ethereum Initial Coin Offering (ICO) has taken steps to reduce their significant holdings in the cryptocurrency.

According to monitoring by crypto analyst Ai Yi, an address associated with this participant obtained 38,800 ETH via the ICO in 2015. The address was dormant for a year before activity resumed recently.

The participant's first move was to transfer 18,500 ETH to another address, followed by the sale of 9,628.54 ETH on-chain at around $2,049 per ETH, totaling approximately $19.72 million in value.