The Ethereum Foundation recently made several significant token transfers and swaps as ETH prices soar past $3,000.
Ethereum Foundation and its Transfers
Blockchain tracker PeckShieldAlert reported that the Ethereum Foundation transferred 21,000 ETH to Gnosis Safe-related addresses over two months.
These internal transfers were carried out through foundation operations. Address 0xc061…0B6d received transfers directly from EFDev wallet.
The foundation subsequently moved 7,000 ETH from 0xc061…0B6d to address 0x247B…583c, roughly equating to $17.56 million.
Additionally, the foundation swapped 1,210 ETH for $3.5 million USDC amidst price fluctuations.
ETH Price Dynamics
ETH has recently broken through the $3,000 resistance with strong performance across multiple timeframes. The cryptocurrency achieved a 7.8% gain in a 24-hour trading period and 17.2% over seven days. Two-week trading saw a rise of 22.2%, while overall performance over 30 days reached 7.9%.
The low for the last 24 hours was recorded at $2,767.71, indicating volatility and the potential for further upward trends as determined by technical analysis.
Market Outlook for ETH
Analysts expect ETH to continue showing bullish trends following the breakthrough past the $3,000 resistance. Notably, analyst Scott Melker predicts ETH could reach $4,000 based on chart analysis.
Simultaneously, the strong interest in ETH's utility positions it as a serious contender for price predictions up to $10,000 in the near future.
The Ethereum Foundation's recent activities and the rising prices of ETH highlight considerable market engagement and interest, suggesting further developments and price growth in the cryptocurrency market.
