The Ethereum Foundation Has Moved $100 Million Worth of ETH to the Kraken Exchange

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According to the Ethereum blockchain monitor Ethereum Foundation, which transferred EYH, valued at about $100 million, to the central exchange Kraken. Giant transaction, Etherscanit was recorded on November 11, while reflecting on the transaction page at‘

Sales from the Ethereum Foundation

The second most popular crypto currency Ethereum while trading at 4.810 dollar levels, the Ethereum Foundation made a significant transfer. Ethereum Foundation he constantly sells crypto funds in the name of receiving fiat currency, which supports the activities of the organization, and this transaction is actually nothing unusual.

But the main concern of users is the timing chosen by the foundation. EthereumAccording to the market history and on-chain data of the , the foundation sells its assets at levels close to the peak. The amount sold by the foundation does not even amount to 0.1% of the daily transaction volume of Ethereum. Therefore, there is no direct effect on the price.

Ethereum Foundation; is an organization dedicated to the support of the Ethereum ecosystem, covering network update, sustainability and continuous improvement. The company states that it does not exist to direct or control the ecosystem, but rather to support the ecosystem. Also, the organization reminds that there is no monopoly on the development of the network.

The Price of Ethereum

The largest altcoin Ethereum, which recorded an all-time high of $4,859 two days earlier. The peak in ETH came in the minutes when the leading Bitcoin reached the ATH level. Ethereum, which is currently on a downward trend following the general market trend, is trading at $4,614 as of the time of this writing.

While the above-chain data confirm the bullish outlook in Ethereum, according to expert analyst comments, the price target marks high levels. With the inclusion of corporate adoption on the stage Ethereum, it has withstood the $5,000 limit. However, the outbreak of the Evergrande crisis has driven the crypto currency market into a downward trend.

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