While Ethereum and altcoins are on the rise, led by Bitcoin (BTC), ETH exceeded $ 3,300.
While these increases caused investors to sell profits, the last move came from the Ethereum Foundation.
According to Lookonchain's post, a wallet affiliated with the Ethereum Foundation deposited 4,000 ETH ($13.3 million) to Kraken after the ETH price exceeded $3,300 today.
“A wallet affiliated with the Ethereum Foundation deposited 4,000 ETH ($13.3 million) to Kraken after the price of ETH exceeded $3,300 today.
The last time this wallet deposited ETH to Kraken was January 16, 2022, and the price of ETH at that time was approximately $3,350.
This wallet received 39,006 ETH ($130.6 million) from EthDev and currently holds 33,006 ETH ($110 million).”
In the cryptocurrency market, sending large amounts of crypto to exchanges is generally interpreted as a sale.
At this point, ETH transfers and sales made by Ethereum co-founder Vitalik Buterin and the Ethereum Foundation generally cause FUD in the crypto community to increase and the Ethereum price to decrease.
ETH continues to trade at $3,346 at the time of writing.
*This is not investment advice.