CLAIM: Arbitrum Foundation is Preparing to Sell $225 Million in Ethereum (ETH)!

The recent moves made by altcoin foundations in the cryptocurrency sector have attracted the attention of investors. The Ethereum Foundation's ETH, Polygon Foundation's MATIC and Fetch.ai Foundation's FET sales have caused many crypto investors to react to altcoin foundations.

According to the latest claims, Arbitrum Foundation may sell large amounts of ETH. The Data Nerd, a successful data provider, provided the following information on the subject:

“8 hours ago, a wallet (very likely belonging to Arbitrum Foundation) deposited 60 thousand ETH (worth $150.33 million) to Binance.

This foundation deposited a total of 90 thousand ETH (worth $226.02 million) to Binance in the last 24 hours.”

Although it is not certain that the Arbitrum Foundation will sell all the ETH it transferred to Binance, exchange transfers are generally interpreted as sales in the industry.