ME News reports that, on June 7 (UTC+8), according to Lookonchain monitoring, an Ethereum OG who sold 60,000 ETH (worth $117.25 million) at approximately $2,040 each and 9,442 wstETH (worth $24 million) a week ago is now repurchasing ETH. Over the past two days, the address has spent $55.8 million to buy 35,723 ETH at an average price of $1,563 per ETH and may continue buying. (Source: PANews)
Ethereum OG Spends $55.8M to Repurchase ETH After Selling 60,000 ETH for $117M
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Summary
An Ethereum OG who sold 60,000 ETH and 9,442 wstETH for $141.25 million last week is now repurchasing ETH. Over two days, the individual spent $55.8 million to buy back 35,723 ETH at $1,563 each. The move indicates a favorable risk-to-reward ratio amid shifting technical analysis in crypto, with more purchases potentially ahead.
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