The latest hype in the crypto community was made with wallets created in Ethereum in 2010, and quickly moved a large amount of ETH to Bybit, one of the most well-known crypto exchanges. Also known as OG address, this wallet has held ETH since 2017. Analysts now feel that it will be a massive sale of ETH, which could occur in the nearest future. This is not a small movement. In fact, it has been reported that this wallet has been carrying a very large ETH ETH since 2017. From May 2017 to February 2020, 16,830.64 ETH was obtained. The average price ETH sold at the time was about $181 per coin.
Possible big benefits
If the wallet owner chooses to sell 2,200 ETH at the application level, it will be huge money. This value ETH has the original cost purchased for around 398,970. It also achieves a profit of 952 million at a typical price. This is not an exemption in one case where the holder is willing to acquire the proceeds of his long-standing holdings. Bibit belongs to the number of sites that have accumulated 8,310 ETH to this year. This type of transfer is worth $41.4 million.
Why is this important?
A large amount of ETH is purchased or sold in exchange, usually indicates that the owner is selling it. Bibit is also one of the biggest crypto exchanges. It’s even more interesting to transfer. Many investors follow these enormous migrations. Previous Ethereum customers are OG addresses. They also entered the 100-400 ETH period. A common occurrence in the crypto world is disposing of some of your possessions at a high price.
Market reactions and speculations.
Recently, Ethereum prices have been fluctuating. In the past, it has dropped by 2.39% within the past few hours. Furthermore, this would have been certain that the OG wallet owner would buy it at this point. . Immediate sales of ETH will result in a slight drop in prices.
