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Ethereum holder Quantum Solutions sells 1,000 ETH for $1.9 million

The sale proceeds will fund data center services for the development of the company’s artificial intelligence business.

Reported · Written up by our desk · Ethereum

Crypto markets extended losses as broader risk sentiment remained tilted, but one Ethereum-specific development stood out: Quantum Solutions, Japan’s largest public holder of Ethereum, said it has agreed to sell 1,000 ETH for $1.9 million.

According to Action Forex, the company plans to use the proceeds to finance data center services tied to the development of its artificial intelligence business.

The report also noted that total crypto market capitalization fell 1.0% over the past 24 hours, returning to levels last seen in mid-July, alongside a negative correlation with the Nasdaq 100 as equities rose while cryptocurrencies declined.

Elsewhere in the crypto ecosystem, Tether’s excess reserves halved over the quarter to $4.11 billion, while USDT in circulation rose by $446 million over the quarter to $184.6 billion.

Latest closeEthereum $1,864.81 ▼0.9%|Nasdaq Comp. 25,373.85 ▲1.0%

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