A company that is changing the way the world mines bitcoin

coinpedia 2024-12-17 11:37:29

Ethereum Foundation Dump Another 100 ETH for $420k, ETH Price to Drop

The post Ethereum Foundation Dump Another 100 ETH for $420k, ETH Price to Drop appeared first on Coinpedia Fintech News Ethereum Foundation doesn’t seem to be stopping as they made another sell-off offloading another 100 ETH on December 17. This isn’t the first time they’ve made such a move last week, raising questions about their strategy. Perhaps ETH co-founder Vitalik Buterin explained why the Ethereum Foundation sells ETH continuously. Ethereum Foundation Sells 100 ETH According to data from the prominent blockchain analytics platform, Lookonchain the Ethereum Foundation offloaded 100 ETH from its holdings for approximately $420,470. The #Ethereum Foundation sold 100 $ETH ($420.47K) again just now. #Ethereum Foundation has sold a total of 4,466 $ETH ($12.62M) this year. https://t.co/aEdJQoOeuv pic.twitter.com/Cd6LPm1JBu — Lookonchain (@lookonchain) December 17, 2024 This transaction is just one of many the Foundation has made this year. So far, the Foundation has sold a total of 4,466 ETH, valued at around $12.62 million. What’s even more interesting is that this recent sale came just a week after the Foundation offloaded 100 ETH for 374,334 DAI in mid-December. With these frequent transactions, market watchers are growing concerned about the impact on ETH’s price. The Ethereum Foundation, a non-profit organization, continues to offload its ETH, despite holding a significant $970.2 million in treasury. The majority of its crypto holdings are in Ethereum, which only adds selling pressure to the crypto. Vitalik’s Explanation Behind The Sell-Off Ethereum co-founder Vitalik Buterin has previously explained that the Foundation timely sold ETH to fund public projects and maintain reserves. However, the constant selling continues to raise concerns, especially with the Foundation holding a massive $970.2 million in assets, mostly in Ethereum. Despite accusations from some critics claiming that Buterin is selling ETH for personal profit, he has firmly denied these claims. ETH Price Loses Momentum Ethereum recently saw a price surge, crossing the $4,010 mark for the first time since March 2024. Historically, each time ETH reached this level, it faced a significant drop. Data shows that exchange reserves have risen by nearly 100,000 ETH, worth around $400 million, signaling potential selling pressure as ETH approaches a six-month high. Additionally, the Relative Strength Index (RSI) is falling, pointing to a bearish trend and suggesting a possible price drop. With the current price action, there’s a strong chance ETH could decline by 12%, potentially reaching the $3,500 level.

Наиболее читаемые новости

Let It Snow: Pudgy Penguins Release Massive $...
2024-12-17
Why Powell and the Fed should hold off on rat...
2024-12-17
US lawmakers cancel session to consider Carol...
2024-12-17
Remote Enables US Companies to Pay Contractor...
2024-12-17
Bitcoin Soars to $108K Before Dropping Below...
2024-12-17
Bloomberg Analysts Predict Litecoin, Hedera E...
2024-12-17
Remote, Stripe enable USDC payments for globa...
2024-12-17
Zachxbt Ties $12.38 Million Crypto Drain to L...
2024-12-17

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения