Plunge

Ethereum

Foundation

Spot

<p>The post <a href="https://coinpedia.org/news/ethereum-price-plunge-alert-foundation-dumps-100-eth-before-etf-buy-the-rumor-sell-the-news-in-action/">Ethereum Foundation Dumps ETH Ahead of ETF Launch: Shady Strategy in Action?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Spotonchain, a prominent blockchain analytical platform, the Ethereum Foundation recently sold 100 ETH for 345,179 DAI. This transaction is noteworthy because it took place just hours before the scheduled <a href="https://coinpedia.org/price-analysis/ethereum-etf-launch-is-just-a-few-moments-away-will-this-be-the-turning-point-for-the-eth-price-rally/" target="_blank" rel="noreferrer noopener">launch of Ethereum ETFs</a>, adding intrigue to the timing and raising questions over the exact reason behind such a transaction.</p> 
<h2 class="wp-block-heading" id="h-ethereum-foundation-s-recent-sales">Ethereum Foundation’s Recent Sales</h2> 
<p>Spotonchain reports that, in 2024, the Ethereum Foundation has sold a total of 2,366 ETH, amounting to 6.9 million DAI, at an average price of $2,916 per ETH. The last recorded sale occurred 21 days ago, on July 2.&nbsp;</p> 
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   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> Foundation sold 100 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> for 345,179 <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAI</a> ~35 minutes ago!<br><br>Notably, the sale came when the Ethereum ETFs will be launched in less than 6 hours.<br><br>In 2024, the Ethereum Foundation has sold 2,366 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> for 6.9M <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DAI</a> at an avg price of $2,916. The last sale was on July… <a href="https://t.co/MH9SQ4zJ9J">https://t.co/MH9SQ4zJ9J</a> <a href="https://t.co/0ungPupRQJ">pic.twitter.com/0ungPupRQJ</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1815659067454697490?ref_src=twsrc%5Etfw">July 23, 2024</a>
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<p>These sales are seen as part of a strategic approach by the Foundation to manage its Ethereum holdings effectively. Meanwhile, The timing of these transactions is particularly intriguing, given the imminent launch of Ethereum ETFs.&nbsp;</p> 
<p><strong>Major Fund Movements </strong></p> 
<p>Adding to the intrigue, Spotonchain reports that another wallet associated with the Ethereum Foundation and the ICO, identified as “0xdb3,” transferred 3,200 ETH (valued at $11.2 million) to the Kraken exchange just 19 hours ago.</p> 
<p>This significant movement of funds raises questions about the Foundation’s financial strategies and market outlook. However, the exact reasons behind this activity remain unclear.</p> 
<h2 class="wp-block-heading" id="h-etf-market-predictions">ETF Market Predictions</h2> 
<p>Chinese journalist Colin Wu predicts that spot Ethereum ETFs could attract up to $4 billion in capital inflows within the next year. Analysts also forecast a 24% increase in Ethereum’s price during this period.</p> 
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   <p lang="en" dir="ltr">The SEC has officially approved the S-1 applications of Ethereum spot ETFs. It is expected that the initial trading will start at 9:30 on July 23. Wintermute predicts that the spot Ethereum ETF will attract up to $4 billion in capital inflows in the next year, and the price of…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1815568896289882451?ref_src=twsrc%5Etfw">July 23, 2024</a>
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<p>As of now, Ethereum is <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">trading at $3,506</a>, having bounced back 0.53% after a recent 3.5% drop, showing strong recovery potential.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/ethereum-based-tokens-fight-the-bearish-heat-heres-whats-next-for-etc-ens-ldo-prices/" target="_blank" rel="noreferrer noopener">Ethereum-Based Tokens Fight the Bearish Heat Here’s What’s Next for ETC, ENS &amp; LDO Prices!&nbsp;</a></p> 
<p><strong>The timing of these transactions is undeniably suspicious. Could there be more to this story than meets the eye?</strong></p>

Ethereum Foundation Dumps ETH Ahead of ETF Launch: Shady Strategy in Action?

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