The Cosmos developer sold another 3000 ETH an hour ago

According to on-chain analyst Yu Jing, Cosmos developer Interchain Foundation sold another 3,000 ETH an hour ago, worth approximately $10.16 million. These ETH originated from the IC0 fundraising in April 2017. Since the end of April this year, the developer has sold a total of 21,600 ETH, cashing out approximately $55.97 million at an average selling price of $2,591.

Currently, the developer still holds 23,587 ETH and 383.8 BTC with a total value of about $95.48 million. However, Cosmos's native token $ATOM is underperforming; its price has dropped from $10 when BTC fell to $16k at the end of 2022 to its current price of $6.5.