A wallet linked to the Ethereum Foundation has conducted a significant sale of $33.25 million in Ethereum. This transaction may notably impact the current market landscape.
Ethereum Foundation's Crypto Sale
The Ethereum Foundation-connected wallet sold 7,294 $ETH, totaling $33.25 million. This sale occurred after the wallet purchased $40.2 million worth of Ethereum in June 2022.
Trading Strategy Insights
The trading strategy of the wallet is evident from its pattern of buying $ETH during overall market declines and selling its holdings at peaks. In 2022, the purchase price was only $1,193.
Market Impact of the Sale
Currently, the price of Ethereum stands at approximately $4,457.45, nearing its all-time high (ATH). However, such profit-taking could significantly influence the overall market performance going forward.
The recent actions of the Ethereum Foundation wallet highlight a calculated trading strategy that may sway price dynamics in both the short-term and long-term.
