{"id":596362,"date":"2024-03-05T21:00:36","date_gmt":"2024-03-05T21:00:36","guid":{"rendered":"https:\/\/www.wncen.com\/?p=596362"},"modified":"2024-03-05T13:52:28","modified_gmt":"2024-03-05T13:52:28","slug":"ethereum-foundation-selling-eth","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/ethereum\/ethereum-foundation-selling-eth\/","title":{"rendered":"The Ethereum Foundation Is Selling ETH Again, Is The Top In?"},"content":{"rendered":"

The <\/span>Ethereum Foundation<\/span><\/a>, a non-profit organization, has initiated an unexpected <\/span>ETH sell-off<\/span><\/a> to a single address, prompting speculation about a potential market peak.\u00a0<\/span><\/p>\n

Ethereum Foundation Executes Multiple ETH Transfers<\/h2>\n

On Monday, March 4, Blockchain analytics platform LookOnChain revealed a <\/span>series of transactions executed<\/span><\/a> by a wallet address related to the Ethereum Foundation. Sharing a screenshot of the transaction details on X (formerly Twitter), LookOnchain <\/span>disclosed<\/span><\/a> that the Ethereum Foundation had initiated three ETH transactions to a single wallet address identified as \u201cCumberland Forwarder\u201d.\u00a0<\/span><\/p>\n

Related Reading: Crypto Expert Says \u2018Prepare Yourself\u2019 For Massive Altcoin Run, Here\u2019s Why<\/a><\/div>\n

Among these transfers, two involved selling off 500 ETH each, while the third recorded a transaction amount of 0 ETH. At the time of writing the price of Ethereum is trading at $3,684.95 according to CoinMarketCap. This price puts the value of the Ethereum Foundation\u2019s 1000 ETH sell-offs at over $3.68 million.\u00a0<\/span><\/p>\n

It\u2019s uncertain whether this unexpected sell-off indicates a shift in the foundation\u2019s perspective on Ethereum\u2019s current valuation, as the foundation is known for <\/span>selling ETH tokens during tops<\/span><\/a>. Additionally, the timing of the transfers could be an indication of a peak in Ethereum\u2019s price, which often precedes a significant price correction.\u00a0<\/span><\/p>\n

Including the Ethereum Foundation, there have been other major ETH transfers made by investors. Earlier in January, bankrupt cryptocurrency company Celsius Network <\/span>initiated a massive <\/span><\/a>sell-off worth about $125 million ETH. Following this large-scale transfer, Ethereum\u2019s price experienced a major decline.\u00a0<\/span><\/p>\n

With the <\/span>price of Ethereum<\/span><\/a> slowly approaching its peak value, if a similar sell-off phase occurs, it could potentially trigger a shift in market sentiment, pushing investors to opt for other major cryptocurrencies as they attempt to <\/span>diversify their portfolios<\/span><\/a> and avoid risks.\u00a0<\/span><\/p>\n

ETH’s Price Update<\/h2>\n

Recently, <\/span>Ethereum<\/span><\/a> has been witnessing significant gains, driving its price closer to its previous all-time high of $4,379 in May 2021. Notably, the cryptocurrency has been <\/span>aggressively following Bitcoin\u2019s recent bullish uptrend<\/span><\/a>, reinforcing its position as the second-largest cryptocurrency in the space.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Will Reach A New All-Time High This Week, Matrixport Head Of Research Says<\/a><\/div>\n

Various analysts have consistently made <\/span>bullish predictions<\/span><\/a> about the price of Ethereum, with the majority expecting the cryptocurrency to surge above $5,000 soon. Considering the multiple <\/span>upgrades<\/span><\/a> and developmental activities ongoing within the Ethereum blockchain, a price surge to $4,000 seems probable.\u00a0<\/span><\/p>\n

In the advent that Ethereum reaches its \u201ctop in\u201d, the cryptocurrency may undergo a sell-off phase, as investors seek to maximize profits by cashing out their investments. This could lead to a price reversal, with persistent <\/span>selling pressures<\/span><\/a> diminishing demand and instigating Fear, Uncertainty and Doubt (<\/span>FUD<\/span><\/a>) among traders and investors.\u00a0<\/span><\/p>\n

\"Ethereum<\/p>\n

ETH price beats $3,700 resistance | Source: ETHUSD on Tradingview.com<\/a><\/pre>\n
Featured image from CNBC, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Ethereum Foundation, a non-profit organization, has initiated an unexpected ETH sell-off to a single address, prompting speculation about a potential market peak.\u00a0 Ethereum Foundation Executes Multiple ETH Transfers On Monday, March 4, Blockchain analytics platform LookOnChain revealed a series of transactions executed by a wallet address related to the Ethereum Foundation. Sharing a screenshot of the transaction details on X (formerly Twitter), LookOnchain disclosed that the Ethereum Foundation had initiated three ETH transactions to a single wallet address identified as \u201cCumberland Forwarder\u201d.\u00a0 Related Reading: Crypto Expert Says \u2018Prepare Yourself\u2019 For Massive Altcoin Run, Here\u2019s Why Among these transfers, two involved selling off 500 ETH each, while the third recorded a transaction amount of 0 ETH. At the time of writing the price of Ethereum is trading at $3,684.95 according to CoinMarketCap. This price puts the value of the Ethereum Foundation\u2019s 1000 ETH sell-offs at over $3.68 million.\u00a0 It\u2019s uncertain whether this unexpected sell-off indicates a shift in the foundation\u2019s perspective on Ethereum\u2019s current valuation, as the foundation is known for selling ETH tokens during tops. Additionally, the timing of the transfers could be an indication of a peak in Ethereum\u2019s price, which often precedes a significant price correction.\u00a0 Including the Ethereum Foundation, there have been other major ETH transfers made by investors. Earlier in January, bankrupt cryptocurrency company Celsius Network initiated a massive sell-off worth about $125 million ETH. Following this large-scale transfer, Ethereum\u2019s price experienced a major decline.\u00a0 With the price of Ethereum slowly approaching its peak value, if a similar sell-off phase occurs, it could potentially trigger a shift in market sentiment, pushing investors to opt for other major cryptocurrencies as they attempt to diversify their portfolios and avoid risks.\u00a0 ETH’s Price Update Recently, Ethereum has been witnessing significant gains, driving its price closer to its previous all-time high of $4,379 in May 2021. Notably, the cryptocurrency has been aggressively following Bitcoin\u2019s recent bullish uptrend, reinforcing its position as the second-largest cryptocurrency in the space.\u00a0 Related Reading: Bitcoin Will Reach A New All-Time High This Week, Matrixport Head Of Research Says Various analysts have consistently made bullish predictions about the price of Ethereum, with the majority expecting the cryptocurrency to surge above $5,000 soon. Considering the multiple upgrades and developmental activities ongoing within the Ethereum blockchain, a price surge to $4,000 seems probable.\u00a0 In the advent that Ethereum reaches its \u201ctop in\u201d, the cryptocurrency may undergo a sell-off phase, as investors seek to maximize profits by cashing out their investments. This could lead to a price reversal, with persistent selling pressures diminishing demand and instigating Fear, Uncertainty and Doubt (FUD) among traders and investors.\u00a0 ETH price beats $3,700 resistance | Source: ETHUSD on Tradingview.com Featured image from CNBC, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":596402,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,89213,16163,1946,8953,7931,6931,8686,78803],"class_list":["post-596362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-eth-news","tag-eth-price","tag-ethereum","tag-ethereum-foundation","tag-ethereum-news","tag-ethereum-price","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nThe Ethereum Foundation Is Selling ETH Again, Is The Top 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/www.wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"The Ethereum Foundation Is Selling ETH Again, Is The Top In?","url":"http:\/\/www.wncen.com\/news\/ethereum\/ethereum-foundation-selling-eth\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/ethereum\/ethereum-foundation-selling-eth\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum.jpeg?resize=200%2C183","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum.jpeg?fit=275%2C183"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","eth news","eth price","ethereum","ethereum foundation","ethereum news","ethereum price","ethusd","ethusdt"],"dateCreated":"2024-03-05T21:00:36Z","datePublished":"2024-03-05T21:00:36Z","dateModified":"2024-03-05T21:00:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"The Ethereum Foundation Is Selling ETH Again, Is The Top In?\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/ethereum\\\/ethereum-foundation-selling-eth\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/ethereum\\\/ethereum-foundation-selling-eth\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum.jpeg?resize=200%2C183\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Ethereum.jpeg?fit=275%2C183\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"eth news\",\"eth price\",\"ethereum\",\"ethereum foundation\",\"ethereum news\",\"ethereum price\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-03-05T21:00:36Z\",\"datePublished\":\"2024-03-05T21:00:36Z\",\"dateModified\":\"2024-03-05T21:00:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum.jpeg?fit=275%2C183","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/596362"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=596362"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/596362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/596402"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=596362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=596362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=596362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}