The Ethereum Foundation sold $340,000 worth of ETH, causing controversy among investors. However, a smart money trader purchased 10,364 ETH worth $34 million, offsetting the sell pressure. The trader has a track record of profitable trades and a 93% win rate. Meanwhile, Ethereum is facing a corrective movement as Justin Drake unveils plans for a redesigned consensus layer. The announcement has received mixed reactions, with some expressing optimism while others believe it's too late compared to other blockchains. The smart money purchase and Ethereum's improvements could potentially increase demand and positively impact ETH's price.
- Content Editor ( finbold.com )
- 2024-11-12
Smart trader buys $34M in ETH as Ethereum Foundation sells $340k