In 2020, the Ethereum Foundation sold 100,000 ETH, and the price surged over 500% in the months following. There’s no telling what will happen this time.
The price of Ether once surged over 500% in the months after a huge Ethereum Foundation sale of ETH, according to blockchain tracing firm Arkham Intelligence — though there’s no telling what will happen this time.
“The Ethereum Foundation famously sold the top in both May and November 2021. But in 2020, they sold 100K ETH, right before ETH pumped 6x, said Arkham in an Aug. 25 post on X.
It comes as the Ethereum Foundation sent around 35,000 ETH, worth $96 million, to a wallet identified as a Kraken exchange deposit address on Aug. 23 at 5:26 pm.
