$2 Billion Ethereum Being Moved From Dormant Wallets, China Dumping ETH?

The post $2 Billion Ethereum Being Moved From Dormant Wallets, China Dumping ETH? appeared first on Coinpedia Fintech News

A crypto educator and influencer account on X has alerted that “China is Dumping ETH”. As per data from lookonchain, possibly 789,533 ETH worth $2 billion, is being transferred from dormant wallets inactive for 3.3 years. Notably, these funds are coming from the Plus Token Ponzi 2. Chinese police had seized $4.2 billion worth of cryptos from the PlusToken Ponzi crackdown in 2020. The post also shared the total of the various cryptocurrencies that have been seized by Chinese law enforcement. It looks like now Chinese authorities are planning to dump their crypto holdings.