Whale Dumping ETH, Foundation Joins In? $599 Million ETH Flows Into Exchanges!According to ForesightNews, SpotOnChain monitoring reveals that four addresses have cumulatively sold or transferred 197,800 ETH, equivalent to $599 million, into centralized exchanges (CEX) over the past month. Among them, the Ethereum Foundation transferred 35,400 ETH, about $95 million, into CEX, currently holding 275,000 ETH, roughly $677 million
Whale Dumping ETH, Foundation Joins In? $599 Million ETH Flows Into Exchanges!
According to ForesightNews, SpotOnChain monitoring reveals that four addresses have cumulatively sold or transferred 197,800 ETH, equivalent to $599 million, into centralized exchanges (CEX) over the past month. Among them, the Ethereum Foundation transferred 35,400 ETH, about $95 million, into CEX, currently holding 275,000 ETH, roughly $677 million.
Besides the Foundation, JumpTrading also sold 88,900 ETH, approximately $276 million, currently holding 53,600 ETH, worth about $132 million. The address starting with 0xe17, involved in ETH token issuance, sold 48,500 ETH, around $154 million, currently holding 303,000 ETH, representing $751 million. Additionally, the long-term holding whale address starting with 0x682 sold 25,000 ETH, equivalent to $73.9 million, currently holding 41,600 ETH, worth about $103 million.
The phenomenon of whales dumping ETH has attracted market attention, with many investors concerned if this signals a decline in ETH prices. However, some analysts believe that whale selling does not necessarily indicate a bearish market, and could be a result of fund allocation or strategy adjustments.
The reason behind the Ethereum Foundation's transfer into CEX remains undisclosed, but some analysts suggest that the Foundation might be allocating these funds to other projects, such as funding developers or promoting the development of the Ethereum ecosystem.
Regardless of the underlying reasons for the whale selling, this serves as a reminder for investors that market risks always exist, and it's crucial to invest cautiously and manage risks effectively.
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