EOS ran a 355-day ICO and raised about 4 billion dollars’ worth of Ethereum. According to Etherscan, EOS has removed the last bit of Ether from their ICO wallet address yesterday. This is significant news for Ethereum, because if EOS is selling the ETH for fiat, it may be almost over.
This wallet has just removed the last 100,645 Ethereum yesterday. Assuming that EOS is liquidating this Ethereum for fiat, the sheer amount that EOS is selling is probably a significant contributor to the dropping price of ETH.
EOS has staggered their withdrawals since the conclusion of their ICO, starting 55 days ago, and were removing around 100,000 Ethereum on average every few days since.
It is fair to assume that Ethereum has been dealing with these huge sells of ~100,000 for the last two months and that negative sell pressure may soon be over. EOS could also be just relocating their ETH but they must be liquidated at least part of their ICO earnings for fiat. Either way, this is a bullish sign for Ethereum.
