The Ethereum Foundation moved millions of dollars of ETH as the price rose to $3,300.
Reported by on-chain analysis platform Lookonchain to data according to February 28 action on the day Ethereum Foundation cryptocurrency exchange Kraken $13.3 million worth 4,000 ETH sent.
The wallet in question last sent ETH to Kraken. January 16, 2022 was showing and the Ethereum price $3,350 was at the level. Approximately 10 days after that transfer of the foundation ETH price dropped by 36% to $2,145.
From Erhereum Foundation EthDev approx. $130.6 million worth 39,006 ETH had allocated. The Foundation currently has $110 million worth 33,006 ETH is available.
Vitalik Buterin stated in his statement in recent months that similar stock market transfers were made for the purpose of donations to charities and raising funds for ecosystem development.