A recent ETH transfer by the Ethereum Foundation sparked concerns among investors. The non-profit organization deposited 35,000 ETH, worth $93.8 million, on Kraken, leading to speculation. The Foundation clarified that it was not a sale but a treasury management process. The transfer was necessary to settle obligations in fiat due to regulatory constraints. Prior to this, the EF had been gradually offloading ETH. Executive Director Aya Miyaguchi assured that this strategy would continue in a planned manner. Currently, ETH trades at $2,748, showing a slight gain. The cryptocurrency is range-bound between $2500 - $2800, with potential for an upward breakout to $3560 if bulls take control. Conversely, a bearish scenario could push the price down to $2100. Read more AI-generated news on: https://app.chaingpt.org/news