Ethereum OG Sells 1,800 ETH Amid Market Volatility
- Ethereum OG sold 1,800 ETH; impact on market analyzed.
- ETH trades at $4,113 amid increased sell pressure.
- No official confirmation yet on the seller’s identity.
An Ethereum OG sold 1,800 ETH with a cost basis of $2,523 today; however, no official identity or statements surfaced from major influencers or channels about the sale.
This sale highlights ongoing ETH market volatility, which saw a 15% decline recently, indicating potential increased sell pressure and outflows. Broader implications remain linked to institutional and on-chain activities.
An unidentified Ethereum OG reportedly sold 1,800 ETH with a cost basis of $2,523 today. No official statements or wallet disclosures have verified this significant sale, creating speculation within the cryptocurrency community.
The identity of the seller remains unknown, with no verified public identification from major Ethereum figures. Key players such as Vitalik Buterin and Joseph Lubin have made no statements regarding the transaction.
The transaction occurs as Ethereum’s price experiences downward pressure, trading at $4,113. The market has seen notable outflows from ETH-focused funds this month, totaling $389 million, potentially linked to institutional or large holder selling activities.
This sale aligns with increased sell pressure, evidenced by downward On-Balance Volume (OBV) indicators since mid-September. Such movements suggest heightened market volatility and reduced liquidity across trading platforms.
Historical trends show Ethereum “OG” sales often result in temporary price corrections. ETH’s current oscillation around $4,000 mirrors past patterns, despite expectations for longer-term demand and institutional inflows supporting future price recovery.
Expert insights anticipate long-term bullish prospects, with Tom Lee of Fundstrat suggesting Ethereum could reach between $12,000 and $15,000. Lee stated, “I expect Ethereum to surpass its previous highs, with ‘real price discovery’ occurring between $12,000 and $15,000… a lot of that will happen on Ethereum.” No direct official updates regarding the sale have been released by key figures or regulatory authorities.
