Ethereum

Ponzi

<ul class="wp-block-list news-points">
 <li>China has moved 7k ETH from a total of 542K ETH seized from PlusToken scheme.</li>
 <li>The wallet has moved tokens for the first time since 2021.&nbsp;</li>
 <li>A sell pressure is hovering over ETH which suggests that lower prices are possible.</li>
</ul>
China is reportedly preparing to sell $1.3 billion worth of Ether (ETH) seized from the PlusToken Ponzi scheme. The wallet holding these tokens has moved for the first time since 2021, indicating that the holders of the leading digital asset might soon witness an increased selling pressure.&nbsp;
Crypto researcher ‘FreeSamourai’ reported on X that approximately 7,000 ETH of the total 542,000 ETH seized from PlusToken have been transferred to various digital asset trading platforms, suggesting that authorities are initiating the sale. This raises the possibility that ETH could drop below the $2,400 price level.
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 In early August, the remnants of ETH seized from the multibillion dollar PlusToken scheme awoke on-chain for the first time since 2021. Over the last 24h about 7k ETH of the remaining 542k ETH ($1.3b) was sent to exchanges indicating intent to begin selling the remaining tokens. <a href="https://t.co/tu2o7y4o4L" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/tu2o7y4o4L</a>— ∴FreeSamourai∴ (@ErgoBTC) <a href="https://twitter.com/ErgoBTC/status/1844117289123410303?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">O…</a>
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The post <a href="https://coinedition.com/china-to-sell-1-3b-of-ethereum-from-seized-plustoken-scheme/" rel="noopener noreferrer nofollow">China to Sell $1.3B of Ethereum From Seized PlusToken Scheme</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

China to Sell $1.3B of Ethereum From Seized PlusToken Scheme

Coin Edition

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