Recently, Argot Collective, an independent non-profit organization, executed the sale of 1,210 ETH valued at approximately $3.5 million, generating significant speculation in the market.
Sale of ETH by Argot Collective
Argot Collective sold 1,210 ETH at a price of $2,890 per ETH, totaling around $3.5 million. This transaction attracted attention as it was associated with wallets linked to the Ethereum Foundation.
Clarification by Ethereum Foundation
Following the sale, clarification came from Hsiao-Wei Wang. She stated, "The sale was not executed by the Ethereum Foundation itself. Instead, the transaction was carried out by a newly formed, independent non-profit organization known as Argot Collective."
Economic Impact on the Market
The sale of 1,210 ETH raises speculation about potential selling pressure on ETH's price. Historically, foundation sales have coincided with local price peaks, suggesting upcoming volatility in the short term.
The sale by Argot Collective highlights the importance of monitoring the actions of non-profit organizations within crypto ecosystems and their impacts on market dynamics.
