Key Points:
Ethereum Foundation moved 18,089 ETH worth $64.48M within an hour, sparking market interest.
Since 2015, the Foundation has moved 44,167 ETH multiple times, strategically selling or recharging trading platforms.
Ethereum Foundation has gained wide appeal in the crypto community.
An on-chain data analyst, @ai_9684xtpa, tells us that this is only part of the Foundation's continuous strategic management of its holdings.
https://twitter.com/ai_9684xtpa/status/1802247397080465646
On November 20, 2015, the Ethereum Foundation sent a large chunk of 44,167 ETH to an address beginning with 0x8e2. ETH then cost only $0.9268, and the cryptocurrency market was still developing. Over the past nine years, the ETH has been shifted thrice; parts were sold or recharged to trading platforms each time.
Read more: Ethereum ETF Timeline: Important Days And Deadline In May
Ethereum Foundation Executes Major ETH Transfer
The most recent and significant movement in that respect took place within the past hour. It involved the transfer of 18,089 ETH from the 0x8e2 address to the new one starting with 0x2f7. The transaction, which is approximately $64.48 million, aroused interest in examinations and discussions among analysts and traders.
This is evidenced by the transfers observed thus far by the Ethereum Foundation, which appear very systematic, strategic, and almost businesslike. For example, each transfer can be noted to be timed and executed either to fully take advantage of a prevailing market condition or to support some specific initiative. The most recent transfer, due to the humungous amount it embodies, has raised speculations regarding the Foundation's intentions and its possible impact on the market.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
