The Ethereum Foundation made a big ETH move in the last few hours, based on on-chain data.
According to Lookonchain, an on-chain analytics company, the ETH Foundation transferred 1,200 ETH valued at $2.36 million to the grant giver wallet.
The “Grant Provider” wallet exchanged over 1,700 ETH for $2.7 million in USDC last month with the goal of selling.
Ethereum Foundation’s ETH Move Precedes 6% Price Drop,Ethereum Foundation’s ETH Move Precedes 6% Price Drop
The Ethereum Foundation took additional action as well; according to Lookonchain, in the last few hours, 75 ETH worth $148,000 were transferred to the wallet “0x180c”.
Parallel to this, Arkham Intelligence documents a noteworthy Ethereum Foundation action involving the transfer of 1066 ETH from wallet 0x9eE to a new multisig wallet. Even if there are still a lot of options for the relocation, it’s unclear what the true purpose of the transfer is.
In the last day, the price of Ethereum, the second-largest cryptocurrency, fluctuated wildly, rising as high as $2,100 and then falling back to $1,909.
ETH had dropped 6% on the previous day to trade at $1,951 and was still trading below $2,000 at the time of writing. Positively, the largest asset management in the world.
BlackRock, has submitted an S-1 form for its spot Ethereum exchange-traded fund (ETF), the iShares Ethereum Trust, to the US Securities and Exchange Commission (SEC). Following the filing, the price of Ethereum rose at first, but it later dropped back to its starting points.
Ethereum Foundation’s ETH Move Precedes 6% Price Drop,Ethereum Foundation’s ETH Move Precedes 6% Price Drop,Ethereum Foundation’s ETH Move Precedes 6% Price Drop , Ethereum coin Crypto news, Ethereum coin News