Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to on-chain data, the Ethereum Foundation made a significant ETH move in recent hours.
On-chain analytics firm Lookonchain reports that the ETH Foundation moved 1,200 ETH worth $2.36 million to the grant provider wallet.
In the past month, the specific wallet “Grant Provider” swapped over 1,700 ETH for $2.7 million in USDC with the intention of selling.
The Ethereum Foundation also made other moves, transferring 75 ETH worth $148,000 to the wallet “0x180c” in recent hours, per Lookonchain.
In a similar vein, Arkham Intelligence reports a significant ETH move by the Ethereum Foundation, with wallet 0x9eE transferring 1066 ETH to a new multisig wallet.
Though many possibilities remain as regards the move, it is uncertain what the real motive of the transfer is.
Ethereum, the second-largest cryptocurrency, saw seesaw price action in the past day, reaching highs of $2,100 before retracing back to $1,909.
At the time of writing, ETH was still trading below $2,000 and was down 6% in the last 24 hours to trade at $1,951.
In a positive development, BlackRock, the world’s largest asset manager, has filed an S-1 form with the United States Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot Ether exchange-traded fund (ETF).
The price of Ethereum initially increased in response to the filing but subsequently returned to its previous levels.