Blockchain Explorer Analysis Reveals EOS Has 100,000 ETH Remaining After Sell-Off
The EOS Platform Only Has 100,000 ETH That Is Left After Just A Few Weeks Of Selling
In the past two to three months the EOS platform has been able to move or even sell about 2.5 million Ethereum. And just in this week only about 500,000 Ethereum was sold or moved. The crowd-sale on the EOS now shows they have no Ethereum at the moment, as all of it has been moved to a different address called the EOS owner.
The EOS Owner Address
The address has also been able to move ETH with some good speed recently as it is standing almost empty as it currently only has 100,000 ETH that has been moved at the times this was being written. With just 100,000 that has been left in the account and with 1.2 million ETH that has been moved out since June 1st, this is when the yearlong ICO came to an end.
The platform says that much of the transactions have gone to the exchanges, as they have been documenting. With the recent movement that has taken place, we are sure that about 100,000 of the ETH has been sent to the Bitfinex and this was done through an intermediary address.
The EOS address has been able to send about 700,000 ETH in the last 13 days to a 052 address. And in turn, this address has also been able to send 100,000 ETH to a different address in just 11 hours. When you look through the company’s report, you are also able to note that the 036 address has also received around 300,000 ETH from the 052 address, which is actually founded by the EOS owner.
After which all this was sold to Bitfinex having about 900,000 ETH that has been sent in just the past 11 hours, which lead to a small decrease in the price of the ETH by around $20. Much of the ETH that has been moved is sold or has been sent to the exchanges, especially Bitfinex, but much of it is still scattered around.
The EOS Strategy
The EOS does not move the funds directly to the exchanges, instead, it obstructs the movement slightly by first moving the coins to an intermediary account, then from here to a second intermediary account. Once this is done is when it is moved to the exchanges.
EOS owns the intermediary accounts that the coins are moved to, but this could raise a little doubt as some of the funds are extremely massive questioning if this is really an ownership exchange. But it is evident that the platform has been able to sell the ETH very quickly, having the total ETH that the company owns significantly reduced especially in the month of June.