Is this a major Ethereum (ETH) top signal?
Notably, this is the largest transfer performed by the organization in 2024. Prior to that, it had conducted numerous transactions to sell a total of 2,516 ETH for 7.4 million DAI.
The massive transfer spooked some members of the cryptocurrency community, with some of them urging the Ethereum Foundation to offer a higher level of transparency. "Such payments or transfers must be fully disclosed financially. Do not leave any room for doubt in people's minds," one of the commentators said in a social media post. The foundation has a tendency to time the market with a high level of accuracy.
Despite the recent transfer, the ETH price remains in the green, currently trading at $2,741 on the Bitstamp exchange after surging 5% over the past 24 hours. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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