On-chain monitoring shows that two wallets suspected of being associated with the Ethereum Foundation deposited 4,393 ETH, worth approximately $11.13 million, to exchanges five hours ago. This has inevitably led the market to wonder: Is the Ethereum Foundation selling ETH again?
Tracing the wallets’ history, they initially received 59,751 ETH from the Ethereum Foundation 10 years ago, when ETH was priced at just $0.90. At the time, the ETH had a total cost of about $53,800. At current prices, the 59,751 ETH would be worth approximately $151 million.
It is still unclear whether this deposit to exchanges means the ETH is about to be sold. However, because the addresses have historical ties to the Ethereum Foundation, the move has drawn market attention.
Tracing the wallets’ history, they initially received 59,751 ETH from the Ethereum Foundation 10 years ago, when ETH was priced at just $0.90. At the time, the ETH had a total cost of about $53,800. At current prices, the 59,751 ETH would be worth approximately $151 million.
It is still unclear whether this deposit to exchanges means the ETH is about to be sold. However, because the addresses have historical ties to the Ethereum Foundation, the move has drawn market attention.