The Ethereum Foundation transferred and sold 1,210 ETH for 3.496 million USDC within 2 hours, according to on-chain data from Ember.
In the past month, the Ethereum Foundation continuously transferred ETH through multiple addresses, with transactions believed to be for selling purposes, demonstrating proactive and transparent asset management activity.
MAIN CONTENT
The Ethereum Foundation transferred over 21,000 ETH last month to address 0xc06.
Address 0xc06 forwarded 7,000 ETH to 0x247 before the ETH was sold.
Recently, 1,210 ETH was sold for 3.496 million USDC, demonstrating clear liquidity activity.
How has the Ethereum Foundation transferred and sold ETH in the past month?
According to on-chain analysis from Ember published on July 11, 2024, the Ethereum Foundation has transferred a total of 21,000 ETH to address 0xc06, and then forwarded to other addresses before selling part of this ETH.
Specifically, after 6 days, address 0xc06 transferred 7,000 ETH to address 0x247, and just 2 hours ago, 0x247 transferred 1,210 ETH to 0x340 to sell for 3.496 million USDC. This reflects a complex and transparent transaction chain regarding the organization’s assets.
"The transfer and sale of ETH by the Ethereum Foundation is closely monitored through on-chain analysis, helping accurately assess the fund management and liquidity activities of the organization."
Nguyen Hai, Blockchain Specialist, July 2024
Why is monitoring ETH transactions of the Ethereum Foundation important?
ETH transactions from large institutional funds like the Ethereum Foundation directly affect price volatility and market confidence, thus on-chain data analysis helps investors and experts assess market movements.
Additionally, transfers through multiple addresses demonstrate caution in fund management and maintain transparency, while helping to avoid massive sell-offs that cause large price fluctuations.
"The transparency of transactions by large organizations demonstrates a commitment to sustainable development and builds trust for the global cryptocurrency community."
Tran Minh Tung, Director of Cryptocurrency Research Analysis, 2024
How does the ETH transfer chain from the Ethereum Foundation to sale occur?
The process begins with the transfer of 21,000 ETH from the Ethereum Foundation to 0xc06, then 7,000 ETH is sent to 0x247. After that, a portion of this, which is 1,210 ETH, is forwarded to 0x340 to sell for USDC. This USDC is transferred back to 0x247, demonstrating planned fund circulation.
Transferring through multiple intermediary wallets helps minimize risk and better control the fund's liquidity process. The selling price of 2,889.5 USD for each ETH in the latest transaction indicates a reasonable price according to the 2024 market.
How does the sale of ETH by the Ethereum Foundation affect the market?
The sale of 1,210 ETH worth 3.496 million USDC shows that the fund is conducting controlled liquidity, avoiding causing significant market volatility. This is a strategy used by large cryptocurrency organizations to ensure stability and maintain investor confidence.
Analysis reports show that large-scale transactions are closely monitored, helping to limit FUD phenomena and minimize pump and dump risks.
Summary table of recent ETH transactions of the Ethereum Foundation
Time Sender Address Receiver Address Amount of ETH Selling Price (USD) Notes June 2024 Ethereum Foundation 0xc06 21,000 Not applicable Centralized ETH transfer 6 days ago (July 2024) 0xc06 0x247 7,000 Not applicable Forwarded ETH 2 hours ago (July 11, 2024) 0x247 0x340 1,210 2,889.5 USD/ETH Sold for 3.496 million USDC
Frequently Asked Questions
How much ETH has the Ethereum Foundation sold recently? The Ethereum Foundation sold 1,210 ETH, equivalent to 3.496 million USDC in the latest transaction, according to Ember data on July 11, 2024. Why does the Ethereum Foundation transfer ETH through multiple different addresses? To optimize risk management and security, transferring ETH through multiple addresses shows the organization's systematic and transparent asset management strategy. What is the selling price of ETH in the latest transaction of the Ethereum Foundation? The selling price of ETH in the latest transaction is 2,889.5 USD each, reflecting the market price at the time in July 2024. How does selling ETH impact the cryptocurrency market? This activity helps increase liquidity but is conducted in a controlled manner to avoid large fluctuations and maintain global investor confidence. How to monitor the transactions of the Ethereum Foundation? On-chain analysis through specialized tools like Ember provides transparent data about the transactions of the Ethereum Foundation and large organizations.
Source: https://tintucbitcoin.com/ethereum-foundation-ban-1-210-eth-thu-usdc/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
