As a seasoned researcher with extensive experience in the cryptocurrency space, I find the recent Ethereum Foundation wallet movements to Kraken quite intriguing. Having closely followed Ethereum’s development and market dynamics for years, I can’t help but recall the Foundation’s past actions during market peaks, which involved selling a significant amount of Ether on Kraken.
The Non-profit Ethereum Foundation, which supports the advancement of Ethereum technology through financial means, recently moved a substantial quantity of Ether (ETH) to the well-known cryptocurrency exchange, Kraken. This transfer has sparked curiosity due to Kraken’s past record of wallet transactions.
Based on data from cryptanalysis firm SpotOnChain, the Ethereum Foundation’s wallets and wallets associated with Ethereum ICO participants transferred approximately $12.5 million and $9 million in Ethereum to exchanges respectively.
Based on the company’s disclosure, these two ethereum wallets have transferred approximately 17,886 ETH, equivalent to around $65 million, to the centralized cryptocurrency exchange since early June. This large deposit could be an indication of an upcoming sell-off.
In the past two days, two wallets associated with the Ethereum Foundation and ICO transactions deposited a total of 3,631 $ETH, equivalent to around $12.5 million, into Kraken as the Ethereum market recovered:1) Wallet 0xdb3 transferred out 2,631 $ETH ($9.01M).- It had previously received this amount from wallets 0xAb0 (an Ethereum Foundation or ICO participant) since June 8.<— Spot On Chain (@spotonchain) July 17, 2024
At present, Ethereum is priced at around $3,400 following a weekly increase of over 10%, and a remarkable surge of nearly 78% during the previous year. This growth comes in the context of a robust cryptocurrency market upturn, where Bitcoin hit an unprecedented peak above $73,500, only to experience a minor correction resulting in a current price of approximately $64,000.
It’s important to mention that the Ethereum Foundation sold off 20,000 Ether units when the price peaked during the bull market, transferring them to Kraken exchange as Ethereum approached its record-high value of around $4,900.
Previously, the Foundation transferred 35,000 ETH to Kraken following Ethereum’s co-founder Vitalik Buterin’s recommendation that the cryptocurrency market might be poised for a reversal.
According to the latest data, the Ethereum Foundation’s wallets contain approximately $1.1 billion in total cryptocurrency assets. The majority of these holdings, around 310,127 ETH, is Ethereum itself. In addition, the Foundation owns 214 units of Wrapped Ether (WETH), equivalent to roughly $285,000, as well as smaller amounts of DAI ($285,000), Tether’s USDT ($151,000), and USD Coin (USDC) ($123,000).
Read More
- UXLINK PREDICTION. UXLINK cryptocurrency
- APE PREDICTION. APE cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- DOT PREDICTION. DOT cryptocurrency
- USD MYR PREDICTION
- USD RUB PREDICTION
- USD UAH PREDICTION
- EUR ZAR PREDICTION
- ETH PREDICTION. ETH cryptocurrency
- RAY PREDICTION. RAY cryptocurrency
2024-07-18 05:51