Major ETH Whale Is Not Done Selling

According to data provided by cryptocurrency analytics platform Lookonchain, an Ethereum (ETH) initial coin offering participant recently liquidated $12.2 million worth of ETH.  

Since late September, the whale has already liquidated 45,000 ETH. Despite going on such a massive selling spree, the gargantuan whale continues to hold a staggering $230 million worth of ETH. 

The whale initially emerged from hibernation in late September after two years of inactivity. 

The ICO participant initially received a whopping 500,000 ETH at the genesis stage. Back then, close to 72 million tokens were distributed to those who contributed to the project.

In other news, a wallet linked to the Ethereum Foundation recently deposited 2,500 ETH (roughly $6 million) to the Bitstamp exchange 20 minutes ago. The wallet initially received more than 51,000 ETH tokens from the foundation back in 2015.