Foundation’s Transactions
The Ethereum Foundation recently transferred 1,000 ETH ($3 million) to a multi-signature wallet. This follows a series of transactions since early 2024, where the Foundation sold 1,766 ETH for DAI.
Historical Significance
The Ethereum Foundation has a history of selling ETH near market tops. In 2022, ETH dropped 40% after the Foundation sold 20,000 ETH. Similarly, in 2021, ETH declined for months after the Foundation sold 35,000 ETH.
Possible Market Correction
Crypto analyst Shin Forex predicts that Ethereum could drop to $2,500. He cites a slowdown in liquidity flowing into the Ethereum ecosystem and a technical analysis indicating a potential decline.
Ethereum’s Current Value
As of this writing, Ethereum is trading around $3,000.
