Ethereum

Arkham

Million

Foundation

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Recent reports by crypto journalist&nbsp;<a href="https://x.com/WuBlockchain/status/1802253542637314279" rel="noopener noreferrer nofollow">Colin Wu</a> reveal a significant transaction involving&nbsp;<a href="https://u.today/ethereum-whales-scoop-up-245-billion-worth-of-eth-in-weeks" rel="noopener noreferrer nofollow">Ethereum (ETH)</a>, worth $64.4 million. The funds were moved from an account previously associated with the Ethereum Foundation, identified as "0x8e23," to a newly created address, "0x8798."
The original transaction in which the Ethereum Foundation sent 44,167 ETH, then worth $40,930, to "0x8e23," took place nine years ago on Nov. 20, 2015. As of now, this amount of Ethereum is equivalent to $154.58 million.
This is not the first time that one of the key entities associated with the major altcoin token may have sold its ETH. However, it is one of the largest in recent times, with previous recent cases not exceeding 100 ETH, or $350,000. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="a24cedb2-37e1-4479-84b0-58c1101bf296" src="https://u.today/sites/default/files/inline-images/ethpic.png">Source: <a href="https://platform.arkhamintelligence.com/explorer/address/0x8798faBEC480628d1C7AD9CFA4BCf6A619FeD812" rel="noopener noreferrer nofollow">Arkham Intelligence</a>
At one point, Vitalik Buterin, the founder of&nbsp;<a href="https://u.today/114-billion-pepe-traders-surprising-ethereum-shift-heres-why" rel="noopener noreferrer nofollow">Ethereum</a>, justified these sales with the need to cover the operating costs of the organization, or charity. Whether the possible sale of ETH worth tens of millions of dollars is justified by such a need remains a question.
<h2 dir="ltr" id="ethereum-eth-price-outlook">Ethereum (ETH) price outlook</h2>
Meanwhile, the price of the main altcoin continues to torment traders in the range of $3,400 to $3,900, and it still will not update its all-time high at $4,868.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="d8834118-375e-47cb-a98f-a8052e860deb" src="https://u.today/sites/default/files/inline-images/ethprice_3.png">ETH to USD by <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Uncertainty is added by the low-liquidity summer market and confusion with the dates related to the approval of spot&nbsp;<a href="https://u.today/ethereum-etfs-may-be-approved-by-july-2-top-expert-reveals" rel="noopener noreferrer nofollow">Ethereum ETFs</a>. However, experts expect the situation to be resolved soon.

$64.4 Million ETH Allegedly Withdrawn From Ethereum Foundation: What's Going On?

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