After a few weeks in the green, crypto assets fall back into the red line. But before this happened, a movement strongly animated the sector, plunging the community into confusion. Why is the Ethereum Foundation selling its tokens in a period of turbulence?
Ethereum, what does the second largest crypto have in store for us?
Vitalité Buterin has managed to make Ethereum one of the most efficient blockchains in the crypto ecosystem. The main crypto after bitcoin, ether, the network’s native token has often surprised traders and in a good way. However, some activities raise questions within the community.
According to several sources, the Ethereum Foundation has transferred a large amount of ETH to Uniswap Dex today. The company would have sold no less than 1,700 tokens, for the tidy sum of $2,738 million. But what is most surprising is not the sale, but the period in which it took place.
Indeed, the transaction which took place at $1,611 per token took place just before the price of the crypto fell. Currently, the ETH price is hovering around $1,590 and is down almost 3% in the last 24 hours. An embarrassing situation, since the co-founder of Ethereum has already committed a similar act, and not just once.
The crypto market in the red as events continue to unfold
Bitcoin (BTC), the main crypto, is falling after several weeks in the red. It is dragging most altcoins into its bearish trend. This drop is due to several factors, including geopolitical events and the Stars Arena hack.
However, what stands out is the action of the Ethereum Foundation. But despite the sale, his crypto wallet still contains 240.68 ETH, 49,700 DAI stablecoins, 10,000 ARB, as well as 3.2 million USDC for an amount of $3,687 million.
A nice sum, but that’s not what the community is interested in. This sale could have passed if Vitalik Buterin had not sold 1,000 ETH on the Bitstamp exchange over the weekend. This is not the only time, as the entrepreneur has transferred almost 4,400 ETH to Bitstamp over the past two months.
With the constant movements of ETH from the addresses of the leaders to another, the community no longer knows which saint to devote itself to. Ethereum recently lowered crypto gas fees, raising concerns about the impending price hike, but these activities are confusing. What is happening with this blockchain?
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