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Did the Ethereum Foundation sell 15,000 ETH?

The wallets of Vitalik Buterin and the Ethereum Foundation have sent more than US$30 million worth of ETH to the crypto exchange Kraken.

By Finst News
• 2 min read
Did the Ethereum Foundation sell 15,000 ETH?

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.

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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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