Summary
- The address "0x5CBC," which is believed to be linked to the Ethereum Foundation, sold 1,000 ETH for about $2.03 million.
- The transaction followed an earlier sale, but the cumulative amount sold and the purpose of the funds were not disclosed.
- Fund movements from this wallet are used as an indicator of major holders' selling activity, but the transaction's direct impact on the price of Ethereum has not been confirmed.
Forecast Trend Report by Period
A wallet believed to be linked to the Ethereum Foundation sold another 1,000 Ether, according to on-chain data.
On-chain analytics firm Lookonchain said on November 10 that 1,000 ETH was sold about nine hours earlier from the address "0x5CBC," which is believed to be tied to the Ethereum Foundation. The tokens were worth about $2.03 million at the time of the transaction.
Lookonchain wrote on X that a wallet linked to the Ethereum Foundation had sold another 1,000 ETH.
The sale followed an earlier transaction from the same wallet. The cumulative amount sold and the purpose of the funds were not disclosed.
While the address has been classified as linked to the Ethereum Foundation, it has not been confirmed whether the foundation directly ordered or executed the sale.
Fund movements from wallets tied to the Ethereum Foundation are used by the market as an indicator of selling activity by major holders. The transaction's direct impact on Ether prices, however, has not been confirmed.
Suehyeon Lee
