Ethereum Foundation sells 300#ETHfor around $760,000
Recently, the sale from Ethereum Foundation has made many people worried about whether the top altcoin can continue to grow?
Even whales sell, let alone the above #ETH.
The giant whale sent 15k#ETH($38.39 million) to Kraken.
Address:
0x682aa4ecb9c8ea51b22433189e979cad3f958711
This whale still holds 26,639#ETH($69.7M) with an estimated total profit of $132M (+86%):
- Withdrawn 96,639#ETHfrom Coinbase at an average price of only 1.580$ (~$153M) from 08/31 to 09/07/2022.
- Deposit 70,000#ETHinto Kraken at an average price of 3.069$ (215 million USD) since 06/03/2024, especially the last 2 deposits were made right before the sharp price drop, including:
+ 10,000 ETH ($34.2 million) on 07/25, before the price dropped 7.6%.
+ 15,000 ETH ($39.7 million) on 08/20, before the price dropped 2.5%.
Such continuous withdrawals and sell-offs prove that the money flow is unstable on ETH Foundation, perhaps money flows out to pay for other investments or public debt.
The push for technological proveups goes hand in hand with the decline in money flow, so ETH probably won't have too much of an explosion in value during this period !!
