EOS Wallet Has No More ETH Remaining – End Of Selling Pressure?

A new thread on Reddit announces that EOS just moved their final 100k ETH and the EOS-owner address is currently down to zero. This is excellent news for the ETH price, and it could mean the end of selling pressure.

The remaining ETH is reportedly in the account of an OTC broker

One Redditor posted that “remaining ETH (down to 95k right now) is sitting in what many people believe to be the account of an OTC broker.”

The same Redditor continues and explains that “the evidence that this is an OTC broker is because of the frequent transfers to individual wallets in nice round numbers (usually a few million dollars worth at a time). It’s believed these are going to OTC buyers because these accounts have also been buying large amounts of ERC20 tokens, which doesn’t make sense for Block.one to do.”

Someone came up with another theory, saying that maybe there is proof that they have been dumping ETH for the market price all this time and all that has stopped now.

Another user believes that if the EOS team had been smarter, they would have kept the 100k as an investment. You can head over to Reddit and follow the thread for yourself to be updated on all new data.

EOS current state in the crypto market

Opinions on EOS are very varied, and some crypto enthusiasts believe that they sold all their ETH to prop up the EOS price and prevent it from falling off a cliff, especially after the launch of their own blockchain which had t deal with some bug related issues.

FireShot Capture 6 EOS EOS price charts market ca  https   coinmarketcap.com currencies eos  - EOS Wallet Has No More ETH Remaining - End Of Selling Pressure?

Anyway, the team behind EOS worked really hard, and they managed to fix all the problems we mentioned.

Currently, EOS is traded at $8.76 on CoinMarketCap. The website is also announcing that “EOS is currently transitioning to their Main Net. Please stay up to date with the exchanges you are using and action as needed.”

You can also see EOS weekly chart above.

EOS price prediction is quite bullish, but we’ll just have to wait and see what happens.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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