Ethereum

Cryptocurrency

Foundation

Read

<ul>
 <li>Ethereum Foundation wallet transfers 15,254 ETH to Kraken.</li>
 <li>Dormant Ethereum address activates with $21.9M in ETH.</li>
 <li>ETH holdings increase to 16M post-ETF approval in the U.S.</li>
</ul>
<p>ETH has seen much action in the past few hours as an Ethereum Foundation-associated wallet transferred 15,254 ETH to the Kraken exchange. This transaction is estimated to be worth around $56.1 million; the news has created much debate among the cryptocurrency community members on its effects on the market.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">When the <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> price started to drop, an <a href="https://twitter.com/hashtag/EthereumFoundation?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#EthereumFoundation</a>-related wallet deposited 15,254 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($56.1M) into <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a> 8 hours ago.<br><br>The <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> in this wallet comes from an <a href="https://twitter.com/hashtag/EthereumFoundation?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#EthereumFoundation</a> wallet and a wallet that received 200K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> in the Ethereum ICO.<a href="https://t.co/j7KPmMt1i8" rel="noopener noreferrer nofollow">https://t.co/j7KPmMt1i8</a> <a href="https://t.co/8Oi5zWMeiC" rel="noopener noreferrer nofollow">pic.twitter.com/8Oi5zWMeiC</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1799270904649957810?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Adding to the intrigue, a long-dormant Ethereum address, which had not seen activity since its creation nearly nine years ago, came to life. This address holds an estimated $21.9 million in pre-mined ETH, adding another layer of complexity to the current market dynamics. Such movements are closely monitored as they can indicate major upcoming shifts in market strategy or sentiment.</p>
<p><strong>Market Response and Investor Interest Surge</strong></p>
<p>Following the U.S. approval of spot ETH ETFs on May 20, there has been a marked increase in Ethereum demand. Long-term holders now acquire an average of 40,000 ETH daily, a stark rise from the 5,000 ETH daily average before the announcement.&nbsp;</p>
<p>Additionally, major ETH investors have expanded their holdings to 16 million ETH, up from 15.4 million. This accumulation suggests growing confidence in Ethereum’s enduring value and stability despite market fluctuations.</p>
<p>These developments provide critical insights into Ethereum’s evolving landscape. The substantial increase in holdings by major investors, combined with significant transactions from foundational addresses, paints a picture of a dynamic market that continues to attract substantial interest and speculation.&nbsp;</p>
<p>As the November elections approach, the cryptocurrency sector remains a focal point of attention, with Ethereum at the centre of many discussions.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/kraken-eyes-u-s-listed-stock-and-etf-trading-launch-by-2024/" rel="noopener noreferrer nofollow">Kraken Eyes U.S.-Listed Stock and ETF Trading Launch by 2024</a></li>
 <li><a href="https://cryptonewsland.com/sec-charges-kraken-for-alleged-violations-kraken-vows-to-defend-position/" rel="noopener noreferrer nofollow">SEC Charges Kraken for Alleged Violations, Kraken Vows to Defend Position</a></li>
 <li><a href="https://cryptonewsland.com/kraken-beats-binance-as-favorite-cryptocurrency-exchange/" rel="noopener noreferrer nofollow">Kraken Beats Binance as ‘Favorite Cryptocurrency Exchange’</a></li>
 <li><a href="https://cryptonewsland.com/kraken-gives-up-on-america-now-plans-to-launch-its-own-bank/" rel="noopener noreferrer nofollow">Kraken Gives Up on America, Now Plans To Launch Its Own Bank</a></li>
 <li><a href="https://cryptonewsland.com/kraken-stands-firm-on-tether-support-will-other-crypto-exchanges-follow-suit/" rel="noopener noreferrer nofollow">Kraken Stands Firm on Tether Support: Will Other Crypto Exchanges Follow Suit?</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ethereum-foundation-wallet-moves-15254-eth-to-kraken-amid-market-watch/" rel="noopener noreferrer nofollow">Ethereum Foundation Wallet Moves 15,254 ETH to Kraken Amid Market Watch</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ethereum Foundation Wallet Moves 15,254 ETH to Kraken Amid Market Watch

Crypto News Land

Other articles published on Jun 8, 2024

Cryptocurrency Market Faces Significant Decline

Avalanche (AVAX) Price Down More Than 8% Within 24 Hours

Cryptocurrency Market Faces Significant Pullback

Traders View Crypto Market Downturn as Short-Term “Shakeout”

GameStop’s decline hits memecoins as GME, KITTY, AMC see red

Will SAFE See a Recovery After Declining 51% in a Few Months?

Join our free newsletter for daily crypto updates!