Yahya 
Blockchain tracking company Arkham Intelligence claims that after a major sale by the Ethereum Foundation, Ether’s ( ETH) price once skyrocketed above 500% The latest 35,000 ETH transfer, valued at around $96 million, to a Kraken exchange wallet on August 23 has sparked fresh rumors on whether a comparable price increase may materialize this time.
According to Arkham Intelligence, the Ethereum Foundation already sold 100,000 ETH in December 2020 for around $635 per ETH. Five months later, the price shot to a height of $4,182 in May 2021 and then rose to $4,891 in November of the same year. When considering these developments, Arkham hypothesized in a post on X, “Last night, they wired another 35K ETH to Kraken, valued $95M. This time did they get it right?
Executive director of the Ethereum Foundation Aya Miyaguchi responded to the rumors by clarifying that the transfer was a regular “treasury management activity” rather than necessarily a sale. Miyaguchi clarified that such transfers are necessary as the yearly budget of the organization, $100 million calls for certain payments in fiat currency.
Miyaguchi also indicated that while the foundation abstained from Treasury operations earlier in the year owing to regulatory issues, moving ahead more “planned and gradual sales” are probably. Ether’s price has been very constant despite the move, holding around $2,743 as of August 26, after a little rise to $2,808 on August 25.
From a foundation-associated wallet to an unknown address a month ago, this latest transfer follows a notable movement of about 92,000 ETH, valued at over $253 million. This wallet has been inactive for seven years, notably, and the basis still needs to be clarified on the specifics of that transfer.
According to Arkham, the Ethereum Foundation still has over 273,000 ETH, presently worth more than $751 million. Though they were part of larger market movements, past transactions include the over $30 million in Ether moved to Kraken in May 2023 resulted in small price declines.
This most recent action keeps fueling rumors about the strategic activities of the foundation and their possible influence on Ether’s future price fluctuations.
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