Ethereum remains in the spotlight due to its vast dominance over the broader cryptocurrency market. According to the available data, the ETH Network has the highest number of listed crypto-based projects.
Lookonchain, a blockchain analysis firm, noted in its September 06 X post that it has identified another 1000 ETH transaction by the Ethereum Foundation. The transfer was initiated to a multisig wallet, “0xbC9a.”
The #Ethereum Foundation transferred 1,000 $ETH($2.38M) to a multi-signature wallet"0xbC9a" again 15 mins ago.According to the previous transaction, this multi-signature wallet will transfer $ETH to wallet"0xd779" and swap it for $DAI.https://t.co/1DMzORJ9Eg pic.twitter.com/ZMwM9yRt62
— Lookonchain (@lookonchain) September 6, 2024
As per additional information post-transaction, the Ethereum Foundation will swap the transferred Ethereum into DAI. The multisig wallet that received ETH from the foundation will further transfer them to the wallet “0xd779” for conversion purposes.
Market experts claim that these types of transactions are initiated to stabilize the price of the token/coin or to swap some digital currency in stablecoin for backing purposes.
The co-founder of Ethereum always remains in the spotlight for his frequent transactions; he is also famous for his massive donations of digital assets. In August 2024, Vitalik Buterin made several transactions to a multisig wallet.
Also, he transferred a significant amount of ETH to Railgun in the last week of the previous month; however, Lookonchain reported the event. On August 19, 2024, Todayq noted that Buterin had moved 400 Ether to Railgun.
Other Market News Updates
CryptoPunks#6915 gathered significant attention in the past 24 hours, as it was traded for 620.00 ETH. The broader NFT market has significantly boosted the trending volume in the past 30 days.
Milady Maker is the most traded NFT in the past 30 days, with a volume of $9,260,027. On September 06, Todayq reported that Vodafone had announced a plan to leverage sim technology to meet mobile users’ surging demand for crypto.
FCA, the financial watchdog of the United Kingdom, has quoted in its recently published annual report that the registration rate of crypto-focused companies fell significantly in the region.
The decline in registration and approval is majorly fueled by companies’ inefficiency against money laundering and regional rules and regulations.
Crypto Market Price Updates
In the past few weeks, the cryptocurrency market capitalization has tumbled to its verge, reaching below $1.95 trillion at press time, which was $1.94 trillion, with a decline of 2.01% intraday.
The fear and greed index powered by CoinMarketCap is at 30, determining immense fear in the market, with an active bears dominance.
Almost all leading tokens/coins have reflected a strong declining momentum; Bitcoin lost more than 1.50% of its trading price in the past 24 hours, reaching below the mark of $56k.
Similarly, Ethereum lost 1.35% of its trading price and was the lowest traded at $2,323 intraday; however, its market cap also lost a significant portion. Aave lost 5.99%, reaching $124.76 and topping this intraday losers list.
SUI is the intraday gainers’ topper as its price surged 4.26%, reaching $0.8515, followed by Toncoin and DOGs.
