Ethereum Foundation Moves Big ETH Lump – Sell-off Coming?
Lookonchain reported that approximately an hour ago it spotted that the Ethereum Foundation had made a large crypto transfer, moving $2 million worth of ETH. This move was also noticed by another DLT tracker, OnchainDataNerd, which reported it on its X app page.
This transaction happened right after the ETH price showed a marginal rise, which followed a recent drop of 4.23%. Still, Ethereum continues to hold above the key $2,000 level so far.
Ethereum Foundation moves 1,000 ETH
In its recent X post, Lookonchain stated that 1,000 ETH worth an impressive $2 million was moved by the Ethereum Foundation to a Safe multi-signature wallet "0x4e6b." Safe is a type of wallet based on Ethereum chain.
Earlier this year, according to data shared by lookonchain, the Ethereum Foundation also transferred several similar lumps of ETH to the same multi-signature wallet – 1,000 ETH nearly three months ago and another 1,000 ETH almost half a year ago. The goal of these transactions remains unclear and has not been commented on by any Ethereum rep so far.
