Sign of a Peak? Ethereum Foundation Liquidates $374,000 Worth of ETH via Decentralized Trading Platform

The Ethereum Foundation, an entity dedicated to overseeing the progression of Ethereum’s technology, has recently transferred a sum of 100 Ether (ETH) to the decentralized exchange CowSwap. Subsequently, these tokens were exchanged for DAI, a stablecoin.

As per the reports from on-chain analytics platform Lookonchain, the Ethereum Foundation has offloaded Ethereum worth approximately $12.2 million during the current year, with the most recent transaction being worth $374,000. This equates to the sale of 4,366 ETH in total.

At the moment, the price of Ethereum’s ETH stands at $3,640, reflecting a decrease of about 5.75% within the past 24 hours. This downturn is part of a broader slump in the cryptocurrency market, with numerous digital currencies experiencing declines exceeding 12% in the same time frame.

In a historical context, the Ethereum Foundation has previously made a significant transaction of ETH during the peak of the bull market, sending 20,000 ETH to the well-known cryptocurrency exchange Kraken when the value of the cryptocurrency was nearing its all-time high of $4,900.

Prior to this, the Foundation had shifted 35,000 ETH to Kraken following a speculation by Ethereum’s co-founder, Vitalik Buterin, on a potential reversal in the crypto market trends.

Currently, the Ethereum Foundation’s wallet is reported to hold a substantial value in cryptocurrencies, tallying up to $991 million, with Ethereum’s ETH forming the bulk of this value at $990.04 million, equivalent to possessing 269,469 ETH. Additionally, their assets include 214 wrapped Ether (WETH), $94,000 in DAIs, $100,000 in DAIs, and $37,000 in USDC.

The Foundation’s portfolio, based on information from Arkham Intelligence, contains other notable assets such as 47.15 BNB valued at over $32,000, approximately $30,000 worth of 31,800 ARB, along with other smaller investments.

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