The Ethereum Foundation has taken action again and made a transaction of 100 ETH.
According to data shared by on-chain analytics platform Lookonchain, the Ethereum Foundation sold 100 ETH worth $258,000 on Oct. 15. This suggests that the foundation has started selling again.
Last September, the Ethereum Foundation sold 1,250 ETH for $3.6 million. It sold another 3,966 ETH ($11 million) for a total of $2,765 throughout the year.
The Ethereum Foundation has previously made millions of dollars’ worth of Ethereum transactions. These sales have sometimes occurred at favorable price levels and sometimes at more negative points. For example, the foundation made its biggest sale of the year on August 23, and just three days later, the price of Ethereum dropped by nearly 10%.
The recent transaction has sparked speculation on the Ethereum Foundation’s portfolio management and market strategies. Such large sales are usually scrutinized due to their potential impact on the market.
Additionally, Ethereum’s current price movements could play a significant role in shaping the future strategies of investors and analysts. In this context, the Ethereum Foundation’s future actions and strategic decisions have the potential to have significant impacts on both the Ethereum market and the overall cryptocurrency market.
Ethereum, which has gained 2% in value in the last 24 hours, is trading at $2,500 at the time of writing.