A wallet associated with the Ethereum Foundation has transferred $3.03 million in ETH to Bitstamp, fueling speculation about a potential sell-off.

Recent blockchain activity linking to the Ethereum Foundation has drawn further attention after a large transfer of 1,250 ETH, worth approximately $3.03 million, was made to the Bitstamp exchange. 

This transaction, which occurred just a day ago, has sparked discussions within the crypto community. According to Akharm Intelligence, this address was originally funded by the Ethereum Foundation, receiving 51,251 ETH from the organization nine years ago. At the time, the value of the funds stood at $51.2K, which has since appreciated to an estimated $124.5 million. Akharm’s data highlighted the ongoing activity from this address, suggesting further movement of significant Ethereum funds. Just two weeks ago, the same address sent 20 ETH worth $52,330 to a Kraken deposit.

Meanwhile, in the past two months, the wallet transferred a total of 1,210 ETH, split between several transactions to Bitstamp. 

This included a transfer of 1,000 ETH worth approximately $2.61 million and another 200 ETH valued at $521,380. To close the period, another 10 ETH was transferred to Bitstamp.

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