News - Did the Ethereum Foundation sell 15,000 ETH?

By Ted Maas

Did the Ethereum Foundation sell 15,000 ETH?

Ethereum (ETH)
Wallets and Whales

The wallets of Vitalik Buterin and the Ethereum Foundation have sent more than US$30 million worth of ETH to the crypto exchange Kraken. This is according to on-chain data from Etherscan. In the past, a lot of volatility followed such a shift. What can we expect now?

According to Etherscan, Ethereum founder Buterin's 200 ETH were followed by another 15,000 Ethers from a wallet linked to Ethereum developers. It is rumored that both parties were selling coins to fund development on the Ethereum blockchain.

Past experience often shows a pattern. Previous times, such shifts caused a huge spike in the Ethereum price, followed by a sharp sell-off. A scenario that appears to be repeating itself for now. Since the coin's massive move to Kraken, the ETH price has fallen more than eight percent.

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