Over the past seven days, the Ethereum Foundation has sent more than 15,000 ETH to cryptocurrency exchanges. Spot on Chain specialists drew attention to the withdrawal of a large amount of funds from several wallets.
In the past week, 3 wallets linked to #EthereumFoundation have actively unloaded $ETH!
1️⃣ Two Ethereum Foundation’s main wallets sold 200 $ETH for 744,722 $DAI at ~$3,724.
• Since the start of 2024, they have sold 2,166 $ETH for 6.21M $DAIoften ahead of price drops.
2️⃣… pic.twitter.com/g3iIYM53V4
— Spot On Chain (@spotonchain) June 11, 2024
Over the past week, three addresses associated with the Ethereum Foundation have made a number of asset transactions. Two wallets sold 200 ETH for 744,722 DAI at an average price of $3,724 per 1 ETH.
According to analysts, since the beginning of 2024, 2,166 ETH have been transferred to exchanges from these addresses, which is equivalent to 6.21 million DAI.
Another wallet contributed 15,255 ETH (more than $55 million) to the Kraken crypto exchange and sold at an average price of $3,648 per 1 ETH. The message states that this address also belongs to the Ethereum Foundation and an early participant in the Ethereum ICO.
As noted by Spot on Chain, large transfers from Ethereum Foundation wallets to exchanges have always preceded a drop in the price of the asset.
At the time of publication, Ethereum is trading at $3,518, according to TradingView. Over the past 24 hours, the asset price has fallen by 4%.
Notably, in early June, the amount of Ethereum on centralized exchanges fell to its lowest level since 2015. As of June 2, only 10.6% of the total Ethereum supply is stored on such platforms.
Source: Cryptocurrency
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