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Recently, the crypto assets market has shown a notable trend. According to the latest monitoring results from the blockchain data analysis platform Onchain Lens, a wallet address associated with the Ethereum Foundation has conducted a large-scale ETH selling operation in a short period of time.
Specifically, the wallet has sold a total of 6,194 ETH in the past 48 hours, earning approximately 28.36 million DAI stablecoins. Among them, the most recent transaction involved the sale of 2,099 ETH, worth about 9.61 million dollars. More notably, the wallet has just received another 3,000 ETH, valued at approximately 13.69 million dollars, and it is widely expected in the industry that this batch of ETH will also be sold soon.
This series of large transactions has sparked widespread discussion in the market. However, Hsiao-Wei Wang, the co-executive director of the Ethereum Foundation, responded to this. She stated that the 2,794.87 ETH sold by the associated address pointed out by the monitoring agency is not an operation of the foundation.
Wang also provided some historical background information. She pointed out that during the initial coin offering (ICO) of Ethereum in 2014, about 9% of the ETH supply was allocated to the Ethereum Foundation. However, over time, the Foundation's share of ETH has now decreased to below 0.3% of the total supply.
This incident has once again sparked people's attention to the trading behavior of large holders of Crypto Assets (commonly known as "whales"). Although the Ethereum Foundation denied involvement in this large-scale dumping, market participants are still closely monitoring the subsequent flow of these funds and their potential impact on the ETH price.
As the Crypto Assets market continues to develop, large transactions like this may become increasingly frequent. Investors and analysts need to remain vigilant and pay attention to market trends in order to make informed investment decisions.