Risk Continues in Ethereum! ETH Foundation and ICO Whale Made a Million Dollar Sale!

Another new move came from the Ethereum Foundation, which came to the fore with Ethereum transfers.

According to Lookonchain’s post, a wallet associated with the Ethereum Foundation recently deposited 2,500 ETH worth $6.06 million to Bitstamp.

This wallet received 51,251 ETH ($51.2K at the time, $124.5M currently) from the Ethereum Foundation on November 17, 2015.

While the Ethereum Foundation was criticized for not reporting its sales in advance and for not being transparent, the ETH Foundation stated in its statements that it sold these funds due to its own treasury management expenses.

A wallet related to the #EthereumFoundation deposited 2,500 $ETH($6.06M) to #Bitstamp 20 mins ago.

On Nov 17, 2015, the wallet received 51,251 $ETH($51.2K at that time, $124.5M currently) from the #EthereumFoundation.https://t.co/RV8HZrxgKH pic.twitter.com/EpcSD6c0RZ

— Lookonchain (@lookonchain) October 8, 2024

ICO Whale Continues Ethereum Sales!

While the Ethereum Foundation continues its ETH transfers, an ICO whale has also deposited $12.14 million worth of ETH into Kraken.

According to Lookonchain’s post, an Ethereum ICO participant deposited 5,000 ETH worth $12.14 million to Kraken.

This whale sold 50,000 ETH worth a total of $101 million since September 22, with an average selling price of $2,507.

The whale still has 89,500 ETH in his possession, worth approximately $217 million.

Ethereum continues to trade at $2,425 at the time of writing.

*This is not investment advice.