Ethereum

United

Arkham

Foundation

USDC

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According to on-chain data, the <a href="https://u.today/ethereum-eth-might-drop-to-1700-if-it-breaks-this-key-level" rel="noopener noreferrer nofollow">Ethereum</a> Foundation made a significant ETH move in recent hours.
On-chain analytics firm <a href="https://twitter.com/lookonchain/status/1725460297174139284" rel="noopener noreferrer nofollow">Lookonchain</a> reports that the ETH Foundation moved 1,200 ETH worth $2.36 million to the grant provider wallet.
In the past month, the specific wallet "Grant Provider" swapped over 1,700 ETH for $2.7 million in USDC with the intention of selling.
<blockquote>
 The Ethereum Foundation wallet transferred 1,200 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($2.36M) to the Grant Provider wallet and 75 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($148K) to the wallet "0x180c" 2 hours ago.<a href="https://t.co/124yqXLQ3e" rel="noopener noreferrer nofollow">https://t.co/124yqXLQ3e</a> <a href="https://t.co/WTJuh3T4Qt" rel="noopener noreferrer nofollow">pic.twitter.com/WTJuh3T4Qt</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1725460297174139284?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 17, 2023</a>
</blockquote>
The Ethereum Foundation also made other moves, transferring 75 ETH worth $148,000 to the wallet "0x180c" in recent hours, per Lookonchain.
In a similar vein, <a href="https://twitter.com/ArkhamIntel/status/1725471065378308174" rel="noopener noreferrer nofollow">Arkham Intelligence</a> reports a significant ETH move by the Ethereum Foundation, with wallet 0x9eE transferring 1066 ETH to a new multisig wallet.
Though many possibilities remain as regards the move, it is uncertain what the real motive of the transfer is.
Ethereum, the second-largest cryptocurrency, saw seesaw price action in the past day, reaching highs of $2,100 before retracing back to $1,909.
At the time of writing, <a href="https://u.today/ethereum-eth-breakout-on-horizon-as-price-hits-key-level-details" rel="noopener noreferrer nofollow">ETH</a> was still trading below $2,000 and was down 6% in the last 24 hours to trade at $1,951.
In a positive development, BlackRock, the world's largest asset manager, has filed an S-1 form with the United States Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot Ether exchange-traded fund (ETF).
The price of Ethereum initially increased in response to the filing but subsequently returned to its previous levels.

Ethereum Foundation Shifts Millions in ETH Before 6% Price Decline

U_Today

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