A Twitter user discovered something remarkable about the Ethereum Foundation. A user named @edwardmorra_btc on Twitter discovered something remarkable about the sales made by the Ethereum Foundation. Accordingly, EV definitely knows when to sell what it has.
According to the user, EV made its last sale when Ethereum price peaked. According to the transaction that took place on November 11, the Ethereum Foundation sent $90 million worth of Ethereum to sell to leading crypto asset trading platform Kraken. At the time of the transaction, Ethereum was trading at around $4,810. Following the execution of the transaction, Ethereum fell more than 50%.
Not the First
This does not seem like a coincidence. Likewise, the foundation made a similar sale with 35 ETH at the peak in May 2021. The address labeled EthDev currently holds 353,318 ETH.
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