Recent transactions highlight increased activity in the Ethereum market, with large holders significantly boosting their holdings while the Ethereum Foundation and U.S. Government move their funds.
Whales Increase Ethereum Holdings
Crypto analyst Ali Martinez reported that wallets holding between 100,000 and 1,000,000 ETH added significant volumes over the weekend. From July 5 to July 7, these addresses acquired 200,000 ETH, resulting in a price increase from under $2,900 to above $3,050.
Ethereum Foundation Continues Selling
According to CryptoQuant data, the Ethereum Foundation executed its 21st outflow since April, with the latest transaction involving 1,000 ETH valued at $2.51 million, bringing the total ETH taken out to approximately $52.82 million.
U.S. Government Moves Seized Ethereum
Blockchain tracking platform Arkham reported that the U.S. Government moved 86.56 ETH, worth about $219,450, to a Coinbase Prime wallet on July 7. This transaction was originally tied to Ethereum seized from Chase Senecal in October 2022.
The recent transactions and shifts in Ethereum assets indicate growing interest from major holders, while the ongoing sales by the Foundation and movements by the government reflect active participation from various market players.
