Continued Selling Pressure on Ethereum (ETH)
Both retail and institutional sales of Ethereum (ETH) are ongoing, as the cryptocurrency has faced significant selling pressure in recent months.
Major Genesis Creditor Begins Selling
Recently, the creditor who received the largest amount of ETH during Genesis Trading’s liquidation compensation has started to sell their holdings. This creditor was awarded a substantial compensation package in August.
Details of the Liquidation Compensation
- Amount Received: 114,502 ETH
- Value: Approximately $358.19 million
- Date of Liquidation: August 2
Accelerated Sales Over Recent Days
In the last three days, this creditor has significantly increased their selling activity. According to a post by EmberCN, they sold:
- Amount Sold: 12,100 ETH
- Value of Sold ETH: Approximately $31.43 million
Key Takeaway
This individual stands out as the creditor who received the most Ethereum during the Genesis Trading liquidation. The notable sales over the past few days could further impact the market dynamics for Ethereum as the selling pressure continues.
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