HomeUncategorizedThe Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time? By Cointelegraph

The Ethereum Foundation just sold $30M in Ether — But will ETH price fall this time? By Cointelegraph

May 7, 2023

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On May 6, Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event.

ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend.

Ether Kraken balance vs. exchange balance. Source: Glassnode
Ethereum Foundation large ETH transfers to exchanges in recent period. Source: Wu Blockchain