Jiang Zhuoer, founder of mining pool B.TOP, said he sold the remaining 50% of his ETH spot position when Ether rebounded to $1,931, completing a full exit from his spot holdings. He said his average selling price came to $1,834.5.
In the same post, Jiang said ETH has nearly recovered to the level where the current leg of the decline began on June 2. With what he described as heavy overhead supply from trapped holders, he said he expects the rebound to top out at $2,000.
Earlier information cited by BlockBeats showed that Jiang had bought back his full ETH position at $1,645 during the market sell-off on June 5. He then sold 50% of his ETH spot holdings at $1,629 on June 11.
The remarks were reported by BlockBeats on July 15.
BlockBeats reported on July 15 that Jiang Zhuoer, founder of mining pool B.TOP, said he sold the remaining 50% of his ETH spot holdings when Ether rebounded to $1,931, fully exiting his spot position. He said his average selling price was $1,834.5.
Jiang said ETH has almost climbed back to where this round of declines began on June 2. He added that there is substantial overhead supply from trapped holders and estimated the rebound could be capped at $2,000.
Earlier trades
According to earlier information cited in the report, Jiang bought back his full ETH position at $1,645 during the market plunge on June 5. He later sold 50% of his ETH spot holdings at $1,629 on June 11.
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