Ethereum Foundation Sell 7,294 ETH for $33M Divestment
One wallet wey get connection wit Ethereum Foundation don do big ETH sales. On-chain data show say dem first sell 2,794.87 ETH for two hours, make $12.78 million at average price of $4,574.40. Recently, di wallet sell follow 7,294 ETH for three days at about $4,558, make $33.25 million. Di 2024 ETH sale follow wetin dem buy 2022, 33,678 ETH at $1,193 each, total $40.2 million. Traders believe say dis kind ETH sales na strategic divestments, no be bearish signals. Although di total volume fit cause small short-term selling pressure, e no likely go affect market stability much. Investors suppose dey watch future foundation wallet transactions for any price matter.
Neutral
Di Ethereum Foundation big ETH sales fit cause short-term bearish pressure for ETH prices as traders absorb di extra supply. But di divestments dey from strategic fund management, no be because dem lose confidence, plus di overall scale compared to daily trading volumes na moderate. So, even though ETH fit see small price dips soon, di sales no go likely destabilize di market or change long-term bullish trends. Traders suppose dey watch next foundation wallet movements for clues about future price action.