The Ethereum Foundation, the company behind the development of the Ethereum (CRYPTO: ETH) blockchain ecosystem, sold a significant amount of their ETH holdings at the assets peak price in November 2021.<\/p>\n
What Happened: According to a transaction observed on the Ethereum blockchain by Twitter user Edward Morra, on November 11 last year, the Ethereum Foundation cashed out 20,000 ETH on crypto exchange Kraken.<\/p>\n
At the time, the second-largest cryptocurrency by market cap was trading at a price of $4,800 and the collective amount sold was worth more than $97 million.<\/p>\n
Related Link:Bitcoin, Ethereum, Dogecoin Regain Some Composure Why This Analyst Thinks This Crash Is Not Like The Ones That Came Before It<\/p>\n
Ethereum has lost at least 40% of its value since its peak price last year and was trading at under $2,500 at the time of writing.<\/p>\n
Morra highlighted that in 2021, the Ethereum Foundation cashed out 35,000 ETH on May 17 incidentally, this was also at the assets previous all-time high and two days before the wider crypto market crashed.<\/p>\n
The Ethereum Foundations wallet address is called EthDev and has a total of 353,318 ETH worth $827 million at current prices.<\/p>\n
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Ethereum Foundation Sold 20K ETH Worth $97M At Its All-Time High - Benzinga - Benzinga<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Ethereum Foundation, the company behind the development of the Ethereum (CRYPTO: ETH) blockchain ecosystem, sold a significant amount of their ETH holdings at the assets peak price in November 2021. What Happened: According to a transaction observed on the Ethereum blockchain by Twitter user Edward Morra, on November 11 last year, the Ethereum Foundation cashed out 20,000 ETH on crypto exchange Kraken Continue reading