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Home»ALTCOIN NEWS»2016 ICO Project That Raised 820,000 Ethereum Sells $72,000,000 Worth of ETH on Crypto Exchange: Lookonchain
ALTCOIN NEWS

2016 ICO Project That Raised 820,000 Ethereum Sells $72,000,000 Worth of ETH on Crypto Exchange: Lookonchain

By Crypto FlexsJuly 9, 20242 Mins Read
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2016 ICO Project That Raised 820,000 Ethereum Sells ,000,000 Worth of ETH on Crypto Exchange: Lookonchain
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According to digital asset tracking site Lookonchain, a cryptocurrency project that raised 820,000 ETH in an initial coin offering (ICO) in 2016 recently sold millions of dollars worth of ETH on a handful of exchanges.

Golem Network (GLM) is an open source platform that aims to enable decentralized access to computing power.

Lookonchain noted that the project raised a huge stack of ETH through an ICO in November 2016, when the price of ETH was just $10.20.

Lookonchain revealed that Golem sold 24,400 ETH worth $72 million on cryptocurrency exchanges Binance, Coinbase, and Bitfinex over a three-day period. The project still holds 127,634 ETH worth $381 million.

At the time of writing, ETH was trading at $2,986, with the second-largest cryptocurrency by market cap having soared in value by more than 29,174% since its ICO.

The crypto tracker also notes that the whale transferred 1.1 million tokens from the decentralized finance (DeFi) project PENDLE to an unknown wallet on Sunday, worth $3.8 million. The whale then moved the altcoin stack to crypto exchange Binance, where it is likely to be sold on the open market.

The whale still holds 1 million PENDLE worth $3.5 million.

According to Lookonchain, the whale purchased 3.44 million PENDLE between February and April 2023 across centralized and decentralized exchanges, at an average price of just $0.32.

As of this writing, PENDLE is trading at $3.42.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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