A wallet associated with the Ethereum Foundation transferred $3.03 million in ETH to Bitstamp, increasing speculation about a possible sale.
Recent blockchain activity related to the Ethereum Foundation has gained further attention with a large transfer of 1,250 ETH worth approximately $3.03 million to the Bitstamp exchange.
This trade, which happened just a day ago, sparked debate within the cryptocurrency community. According to Akharm Intelligence, this address was originally funded by the Ethereum Foundation and received 51,251 ETH from the organization nine years ago. At the time, the fund's value was $51.2 million, which has since increased to an estimated $124.5 million.
$3 million was transferred to Bitstamp from an address originally funded by the Ethereum Foundation.
Nine years ago, this address received 51,251 ETH from the Ethereum Foundation.
At the time, this was worth $51,000. pic.twitter.com/BwmUuIJXpu
— Arkham (@ArkhamIntel) October 8, 2024
Akharum's data It highlighted ongoing activity from this address, hinting at further movement of large Ethereum funds. Just two weeks ago, the same address sent 20 ETH worth $52,330 to a Kraken deposit.
Meanwhile, over the past two months, the wallet transferred a total of 1,210 ETH to Bitstamp, split into multiple transactions.
This includes a 1,000 ETH transfer worth approximately $2.61 million and another 200 ETH transfer worth $521,380. To end the period, another 10 ETH was transferred to Bitstamp.
Important ETH activities continue
The timing of these moves coincides with the recent activity of some Ethereum ICO participants who have been steadily releasing their ETH holdings.
For example, individuals who initially received 150,000 ETH during Ethereum's Genesis block event began selling some of their holdings on September 22nd.
Since then, they have sold 45,000 ETH for a total of $113.2 million, at an average price of $2,516 per ETH. The whale continued selling, selling another 19,000 ETH on October 3rd for approximately $47.54 million.
Speculation surrounding the Foundation's intentions
The Ethereum Foundation's decision to move large amounts of ETH to a centralized exchange has increased speculation about its plans. Although no official announcement has been made, many observers believe that these actions Possibility of sale.
Reacting to the latest developments related to the Ethereum Foundation wallet movement, one commenter expressed interest in significantly valuing their holdings. They were amazed to see their initial $51.2,000 worth of ETH grow to an astonishing $124.5 million.
Another commenter speculated that the Ethereum Foundation may have been compromised by what they call the “Anti-Crypto Kamala Nation,” further escalating the debate within the community.
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