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An early Ethereum investor continues to sell substantial amounts of Ether, having unloaded $24 million worth months ago and most recently selling 3,000 Ether for over $7.6 million. However, Ether’s price only slightly dropped compared to the 15% hit it took following the same individual’s 7,000 Ether sale in July. The investor originally bought 254,908 Ether in Ethereum’s 2015 initial coin offering (ICO) and still holds 37,070 Ether worth roughly around $94 million. Despite these significant sales, Ethereum’s price has seen a 38% rise over the past year.

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Someone who invested early in Ethereum continues to sell off thousands of Ether tokens. A few months ago, they sold $24 million worth of cryptocurrency.

On October 24, this Ethereum investor sold another 3,000 Ether, cashing out more than $7.6 million. This is according to Lookonchain, a company which analyses data from the blockchain.

This is the same person who sold 7,000 Ether back in July, which led to a 15% drop in Ether’s price. This time, however, the price didn’t drop as much.

These recent transactions only account for 4% of all the Ether this person initially bought back in 2015 during Ethereum’s initial coin offering (ICO). They bought a total of 254,908 Ether.

Different from Bitcoin, which launched without any ICO in 2009, Ethereum was introduced through a token sale. This was announced by Ethereum co-founder, Vitalik Buterin, in early 2014 at the Bitcoin Conference in Miami.

During this ICO, around 60 million Ether were sold to investors, raising approximately 31,000 Bitcoin. At the time, this was worth around $18 million. Ether was sold at a starting discounted price of 2,000 per Bitcoin, or around $0.3. Many investors became millionaires through this process.

This person still has 37,070 Ether left to sell, worth roughly around $94 million. This follows their previous sale of 7,000 Ether in July and their most recent sale of 3,000 Ether. These recent transactions haven’t caused a big drop in Ether’s price.

Over the past 24 hours, Ethereum’s price dropped around 2.4% but is still up 38% over the past year. There is still plenty of Ether in circulation and it remains a popular choice for many cryptocurrency enthusiasts.

Source: Cointelegraph