According to on-chain analyst Ember, Plus Token-related dormant wallets are transferring a large amount of ETH. Most of these 789,534 ETH entered the Bidesk exchange through multiple addresses from June to September 2021 (this exchange collapsed at the end of 2021), and then withdrew from Bidesk to Huobi, of which 268,843 ETH entered Bidesk through only four Bidesk deposit addresses.
Roughly tracked, about 12 addresses that have collected Plus Token-related ETH in the past 30 hours have collected a total of 25,757 ETH (worth approximately US$63.1 million). Some of these ETH were not transferred to Bidesk in 2021; some were withdrawn from Bidesk but not transferred to Huobi.
Rough conclusion: Most of the 789,534 ETH should have been sold in 2021, and what is currently being collected is a small portion that was not sold in 2021.