In recent news, the Ethereum Foundation has transferred 35,000 ETH, valued at $93 million, to the cryptocurrency exchange Kraken, possibly indicating an upcoming sale.
The significant transaction was also detected by the cryptocurrency tracking platform Etherscan, which recorded the movement of 35,000 ETH to Kraken’s deposit addresses.
An analysis of the Ethereum Foundation’s holdings reveals that the organization possesses $745 million in assets, with the majority being held in ETH and a small portion in BNB.
Historically, when the Ethereum Foundation makes large sales, it tends to coincide with a decline in cryptocurrency prices.
At the time of writing, Ethereum is valued at around $2,800 after a notable surge in the past 24 hours and has a trading volume of around $16 billion.
A cryptocurrency trader turned an $800 investment into $400,000 in just one week by trading the meme coin Moo Deng (MOODENG).
Ripple, a prominent fintech company known for its ongoing innovations and partnerships, has struggled to reflect its growth in the price of its cryptocurrency, XRP, over the past seven years.
Ethereum (ETH), the leading altcoin, has been underperforming compared to Bitcoin (BTC) since the start of 2024, disappointing many investors.
BNB Chain has announced a major update designed to enhance its stablecoin infrastructure by introducing gasless transactions.