This week marked significant activity involving Plus Token-linked wallets, with substantial movement of approximately $16 million in Ether, indicating possible intent to sell.

Movements of Plus Token funds

On-chain analyst ErgoBTC reported that part of the Ether seized from the Plus Token scam, around 833,083 ETH, began moving. This week saw movement of 15,700 ETH, and around 7,000 ETH ($16 million) reached exchanges.

Blockchain analysts' insights

EmberCN claims that in 2021, 268,843 ETH from Plus Token were sold on Bidesk. Meanwhile, ErgoBTC found that the remaining 540,000 ETH were being consolidated and potentially prepared for further transactions.

Potential market impacts

While $16 million of moved Ether may not shock the market, the possibility of nearly 540,000 ETH entering the market could create substantial sell pressure.

The continued mobilization of Plus Token's assets highlights significant interest within the crypto community and raises questions regarding potential long-term impacts on the ecosystem.