According to an X post by the Cryptocurrency -Analysis company Lookonchain, an Ethereum (ETH) ICO participant has woken up after 10 years of rest. The wallet bought 2000 ETH for $ 620 10 years ago. The value of the coins is worth $ 5.13 million today. The investor’s money grew by 8270X. Lookonchain emphasizes that the wallet has transferred ETH to Binans for the past two days. There is a great chance that the investor will sell the coins and book a huge profit.
Will Ethereum meet a correction?
There is a likelihood that ETH will face a correction if the puppy dumps 2000 coins on the market. The crypto market is still facing significant volatility. Another 2000 coins on the market can lead to an increase in investors’ uncertainty.
ETH experienced a fairly large price increase in early May after the long -awaited Pectra upgrade. Despite the haus -like development, ETH has failed to break the price level of $ 3000. The asset lasted over the ground $ 3000 in early February. ETH broke out the $ 4000 score in December last year. This is another price level that the asset has struggled to meet in recent years.
Also read: Ethereum to $ 3,000 ?: What is preventing ETH from reaching $ 3K
Ethereum (ETH) is among the most popular crypto courses on the market. The ETH network is also home to a majority of decentralized applications. Despite the project’s incredible success, the coin has failed to generate steam since 2021 bull run. How Cryptocurrency performs in the coming weeks is not yet to see.
