The Ethereum Foundation, founded by Vitalik Buterin, recently caused a stir in the cryptocurrency market when they transferred a massive amount of 15,000 ETH worth $30 million to the exchange Kraken. This sudden move has raised a lot of concern amongst traders and investors, worrying if the market would take a bearish turn.

Travel blogger and vlogger, Luke Martin, took the time to study the sale of ETH and came to the conclusion that the move is nothing to worry about. In his Twitter thread, he emphasized that out of the Ethereum Foundation's seven last sales, five had been local tops, suggesting that the market wasn't affected by the sell.

Martin went on to explain that the Ethereum Foundation sell ETH consistently as a means to fund its development programs. While this adds to the benefit of the platform, it can sometimes have a negative effect on the market. It was believed that the sale of 15,000 ETH would spark fear and negative prices but Martin believes that this is not the case.

To emphasize his claim he identified the 2017's sale of 80,000 ETH when its price was at nine dollars, stating that investors should not worry as the prices of the coin would likely go up with the expected good news that could follow this dumping.

In conclusion, the Ethereum Foundation selling ETH to fund its development programs is nothing to worry about. Luke Martin's study of the ETH sale indicated that the prices could go up rather than go down and it is hoped that the bullish news will shortly follow the sale.



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