An Ethereum ICO participant moved 2,680 ETH worth $5.05 million to new wallets after 11 years of dormancy, yielding a 6,068x return on an initial $831 investment from 2015. This transfer fuels concerns about selling pressure on ETH, which is struggling to reclaim $2,000 and has been trading between $1,830 and $1,950 since late July. Long liquidations have simultaneously spiked, notably with Machi losing $2.44 million and being dangerously close to liquidation on his remaining ETH positions. New funded addresses dropped from 257,330 to 160,740 since early July, while the Accumulation/Distribution indicator is rising toward 16.84 million ETH, signaling buying activity despite bearish pressure.
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