Ethereum

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<p>The post <a href="https://coinpedia.org/news/ethereum-news-today-foundation-transfers-290-million-in-eth-market-response/">Ethereum News Today: Foundation Transfers $290 Million in ETH, Market Response</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>A wallet linked to the Ethereum Foundation recently transferred 92,500 <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>, worth approximately $290 million, marking its first significant activity since 2017. This transaction has created a buzz in the cryptocurrency community. It is noteworthy because it took place two days after <a href="https://coinpedia.org/news/ethereum-etf-news-will-spot-eth-etfs-outperform-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">Ethereum ETFs</a> went live, adding intrigue to the timing and raising questions over the exact reason behind such a transaction.</p> 
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   <p lang="en" dir="ltr">Whale Trade Update: The 92k <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> just moved was sent to the originating wallet by the Ethereum Foundation 0xe93232a – it was moved to <br><br>0xe481a22056bd2ADfbf9D723D162c471f6125328C<br><br>and is sitting there – Im watching it. <a href="https://t.co/Pt72Lkpk73">pic.twitter.com/Pt72Lkpk73</a></p>— MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1816507145091010885?ref_src=twsrc%5Etfw">July 25, 2024</a>
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<h2 class="wp-block-heading" id="h-transaction-details-and-market-response"><strong>Transaction Details and Market Response</strong></h2> 
<p>According to <a href="https://etherscan.io/address/0xe481a22056bd2ADfbf9D723D162c471f6125328C" target="_blank" rel="noreferrer noopener nofollow">Etherscan</a>, the wallet executed two transactions: a minor transfer of 1 ETH and a major transfer of 92,499.11296297 ETH. Before these, the only activity in the last seven years was a minute 0.000513 ETH transfer 30 days ago. Ether was valued at $3,160 per unit at the time of this major transfer. Despite this big move, the market response has been stable, with no immediate fluctuations observed.</p> 
<p>Blockchain analytics platform <a href="https://app.coinpedia.org/company/arkhamintelligence" target="_blank" class="profile-details">Arkham Intelligence</a> <span class="company_user_profile"><span class="profile_data"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"></span> <span class="company__wrapper"> <span class="company__content"> <span class="profile_link_element"><a href="https://app.coinpedia.org/company/arkhamintelligence" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a></span> <span class="company_logo"> <a href="https://www.arkhamintelligence.com/" target="_blank" rel="nofollow noopener"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/company.png" class="company_logo_img" alt="profile company logo" title="profile company logo"></a> <span class="company-name">Arkham Intelligence</span> <span class="company-details"></span> <span class="company_mail"></span> <span class="company_category"><span>Crypto intelligence</span></span> <span class="profile-company-social"> <span class="company-social-icons"><a href="https://www.arkhamintelligence.com/" target="_blank" rel="nofollow noopener"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg" alt="globe icon" title="globe icon"></a></span> </span> </span> </span> </span> </span> tracked this transfer, noting that the funds were moved to another address with no subsequent activity. The Ethereum Foundation has not commented on the transfer, and inquiries remain unanswered.</p> 
<h2 class="wp-block-heading" id="h-major-whale-activity"><strong>Major Whale Activity</strong></h2> 
<p>On the other hand, on July 25th, a major Ethereum whale, who has made a $173 million profit, deposited 10,000 ETH worth about $34.2 million into Kraken just before Ethereum’s price dropped. Previously, this whale withdrew 96,639 ETH from Coinbase at around $1,580 in August and September 2022 and deposited 40,000 ETH into Kraken at approximately $3,422 since March. The whale still holds 56,639 ETH, with their total profit from Ethereum increasing by 113%.</p> 
<h3 class="wp-block-heading" id="h-current-market-snapshot"><strong>Current Market Snapshot</strong></h3> 
<p>In other news, Ethereum’s market has recently declined as trading volumes for the new ETFs dropped significantly. Initially, the ETFs saw strong trading volumes, <a href="https://coinpedia.org/news/ethereum-etfs-debut-with-record-1-billion-trading-volume/" target="_blank" rel="noreferrer noopener">totaling $1 billion</a>. Grayscale Ethereum Trust (ETHE) led with $461 million in inflows, followed by BlackRock’s iShares Ether Trust (ETHA) with $244.7 million, and Grayscale’s mini ETF with $63.8 million.&nbsp;</p> 
<p>However, within 48 hours, Grayscale’s ETHE experienced a major outflow of $346 million, negatively impacting the market.</p> 
<h2 class="wp-block-heading" id="h-eth-price-analysis"><strong>ETH Price Analysis</strong></h2> 
<p>Currently, Ethereum is down 4.8% over the past 24 hours, trading at $3,180, and trading volume has decreased to $25 billion. However, as per the market data, this shows an overall trading volume drop of 10.83% to $39.83 billion and a more than 50% decline in options volume. Despite these setbacks, a slight rise in options open interest and bullish long/short ratios on major platforms like Binance and OKX suggest some investors remain optimistic about future price movements.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/new-us-crypto-tax-bill-donald-trumps-crypto-pledge-and-senate-bill-spark-optimism-in-the-market/" target="_blank" rel="noreferrer noopener">New US Crypto Tax Bill: Donald Trump’s Crypto Pledge and Senate Bill Spark Optimism in the Market</a></p>

Ethereum News Today: Foundation Transfers $290 Million in ETH, Market Response

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