Ethereum

Jerome Powell

Galaxy

Foundation

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<p lang="en-GB" xml:lang="en-GB">According to the analytics account on X social media platform @spotonchain, <a href="https://u.today/ethereum-foundations-huge-eth-sale-shocks-community">the Ethereum Foundation</a> continues to sell substantial lumps of Ethereum.</p>
<h2 id="ethereum-foundation-dumps-more-eth">Ethereum Foundation dumps more ETH</h2>
<p lang="en-GB" xml:lang="en-GB">Less than an hour ago, this entity sold another 300 ETH coins, exchanging them for 763,092 DAI stablecoins. This is the equivalent of $707,328 in fiat.</p>
<blockquote>
 <p lang="en" dir="ltr">The Ethereum Foundation sold 100 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> for 226,868 <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAI</a> again ~ 1 hour ago.Note that the Ethereum Foundation has consistently sold <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> in small batches weekly for the past 3 weeks, totaling 650 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($1.51M) at ~$2,323.Follow <a href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw">@spotonchain</a> for more updates on the… <a href="https://t.co/CZ4fVly2RO">https://t.co/CZ4fVly2RO</a> <a href="https://t.co/IbnR1lkPUr">pic.twitter.com/IbnR1lkPUr</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1835621720281268625?ref_src=twsrc%5Etfw">September 16, 2024</a>
</blockquote> 
<p lang="en-GB" xml:lang="en-GB">This is not the first sale made by the foundation this month. As reported by the same X account, on Sept. 9, it dumped 100 ETH on the market, selling them for 226,868 DAI worth $235,776.</p>
<p lang="en-GB" xml:lang="en-GB">In total, over the past three weeks, this entity has unloaded a total of 650 ETH at an average price of $2,323 - $1.51 million.</p>
<h2 id="ethereum-market-performance">Ethereum market performance</h2>
<p lang="en-GB" xml:lang="en-GB">Today, the second largest cryptocurrency, Ethereum, has staged an impressive price increase, adding 4.71% and surging from $2,450 to the $2,565 level. By now, a slight decline has been detected, as ETH went down by less than 1% and is changing hands at $2,546.</p>
<p lang="en-GB" xml:lang="en-GB">Over the past 24 hours, Ethereum’s growth has constituted 5.72%. Since Wednesday this week, Ethereum has gained a massive 11% rise as it spiked from $2,293 to the level, where it is trading at the moment.</p>
<p lang="en-GB" xml:lang="en-GB">The large Ethereum price spike was triggered by Bitcoin surging by almost 7% since Wednesday. The BTC price jump was fueled by the announcement made during the scheduled FOMC meeting by Fed Reserve chairman Jerome Powell about the bank opting to take a dovish stance and cut the annual interest rate by 50 basis points. That is the first interest rate cut in the last four years.</p>
<p lang="en-GB" xml:lang="en-GB">As <a href="https://u.today/vitalik-buterin-exits-ethereum-amid-price-pump-again">reported by U.Today</a>, on Thursday, Ethereum cofounder Vitalik Buterin also made a large sale as he transferred 1,300 ETH to exchange it for roughly $3.17 million, as the price demonstrated a big pump.</p>
<h2 id="mike-novogratz-s-crypto-bank-buys-eth">Mike Novogratz's crypto bank buys ETH</h2>
<p lang="en-GB" xml:lang="en-GB">Another on-chain data account, @OnchainDataNerd, has reported that despite the Ethereum price showing a staggering increase in the last 24 hours and both Vitalik and the Ethereum Foundation selling ETH, another big entity has been behaving the opposite.</p>
<p lang="en-GB" xml:lang="en-GB">Galaxy Digital, the investment fund founded and spearheaded by former Goldman Sachs partner Mike Novogratz, purchased 3,500 ETH from the Binance exchange. It bought this crypto for approximately $8.91 million.</p>
<blockquote>
 <p lang="en" dir="ltr">4 hours ago, <a href="https://twitter.com/hashtag/Galaxy_Digital?src=hash&amp;ref_src=twsrc%5Etfw">#Galaxy_Digital</a> withdrew 3,500 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (~$8.91M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a>.Just now, he's hodling 65,368 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (~$166.68M).Address:<a href="https://t.co/MD4R3KD7b3">https://t.co/MD4R3KD7b3</a> <a href="https://t.co/pv54gEEa9p">https://t.co/pv54gEEa9p</a> <a href="https://t.co/WZTAEUpzhf">pic.twitter.com/WZTAEUpzhf</a></p>— The Data Nerd (@OnchainDataNerd) <a href="https://twitter.com/OnchainDataNerd/status/1837062837031817246?ref_src=twsrc%5Etfw">September 20, 2024</a>
</blockquote> 
<p lang="en-GB" xml:lang="en-GB">Galaxy Digital now holds a total of 65,368 ETH evaluated at $166.68 million.</p>

Ethereum Foundation Stuns Community with Big New ETH Sale

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