CandleFocus Ethereum Price At Risk? Foundation Continues ETH Liquidations
2024-09-23
Author: Content Editor
A long-dormant Ethereum ICO participant has moved 3,510 ETH, worth around $912 million, to the Kraken exchange after two years of inactivity. The participant now holds $389.7 million. This movement has raised concerns about the intention to sell due to the liquidity offered by the exchange. In addition to this, the Ethereum Foundation has been liquidating ETH, with recent sales totaling 1,150 ETH, equivalent to about $2.8 million. These regular sales have attracted investor interest and come at a time when Ethereum is experiencing rising transaction fees and an increase in ETH burn rate. Despite these liquidations and market concerns, the price of Ethereum has remained stable. However, the increase in ETH on exchanges may lead to more selling pressure and pose potential risks to the sustainability or price of Ethereum.
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