en.bitcoinsistemi.com
The events that marked this weekend included the arrest of Telegram and Toncooin (TON) founder Pavel Durov in France, while the $94 million sale made by the Ethereum Foundation came second.
Ethereum Foundation (EF) Executive Director Aya Miyaguchi said that the $94 million transfer of 35,000 $ETH was not a full-fledged sale, but was part of routine treasury management activities required to fund the foundation’s annual budget.
While the $ETH Foundation's $94 million transfer continues to be talked about, blockchain platform Arkham Intelligence compared past $ETH sales.
Drawing attention to the sales he made in 2020 and 2021, Arkham stated that the $ETH price increased by over 500% just months after the Ethereum Foundation carried out a large $ETH sale.
At this point, Arkham noted that the Ethereum Foundation sold 100,000 $ETH in 2020 and the $ETH price increased 6 times shortly after that date.
According to Arkham data, the price of $ETH rose to $4,182 on May 12, 2021, approximately five months after the Ethereum Foundation sold 100,000 $ETH on December 17, 2020, worth approximately $63 million at the time. Later in 2021, the price of $ETH reached a cycle peak of $4,891.70 on November 10.
While the Ethereum Foundation is making another big sale, Arkham's post raised the question of whether there will be a big rise like in 2021 after the last sale.
“The Ethereum Foundation is known to have sold the top in May and November 2021.
But in 2020, they sold 100,000 $ETH right before $ETH went up 6x.
Last night they sent another 35k $ETH worth $95m to Kraken.
I wonder if they were able to sell it at the right time this time?”
*This is not investment advice.