According to data The Ethereum Foundation (EF) powered by Lookonchain recently moved 160,000 ETH tokens for a total of $654 between internal wallets (approximately $654 million at the time of the transaction).
It is unclear whether some of these tokens will eventually be sold on exchanges.
Last month, EF sold a total of 10,000 ETH ($42.7 million at the time of the transaction) via Kraken to fund research and development, donations, and grants. This move was seen as anti-DeFi.
Balance held
Arkham Intelligence data shows that the wallet is currently managed by EF. hold Tokens worth a total of $827 million. Of course, ETH makes up virtually all of that total, but the nonprofit also holds tokens such as BNB, Bitcoin (BTC), and Arbitrum (ARB).
ETH price fluctuation
Earlier today, the price of the ETH token soared to an intraday high of $4,113, before paring some of its gains. This cryptocurrency is currently trading at $4,002 on the Coinbase exchange.
Major altcoins have struggled to regain momentum since experiencing significant price increases in late September.
The market is clearly not impressed with Tom Lee's latest work. Purchase ETH.
Backlash against EF
Meanwhile, EF recently faced some backlash after Guess (Go Ethereum) lead developer Peter Siraj published a 2024 letter to nonprofit leaders. Siraj accused EF of insufficient developer support and claimed it was centered around Ethereum co-founder Vitalik Buterin.
