Ethereum’s 6x rally linked to Foundation's massive sell-off

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In 2020, the Ethereum Foundation sold 100,000 ETH, and the price surged over 500% in the months that followed — there’s no telling what will happen this time. 

The price of Ether once surged over 500% in the months after a huge Ethereum Foundation sale of ETH, according to blockchain tracing firm Arkham Intelligence — but there’s no telling what will happen this time. 

“The Ethereum Foundation famously sold the top in both May and November 2021. But in 2020, they sold 100K ETH, right before ETH pumped 6x, said Arkham in an Aug. 25 X post.

The Ethereum Foundation sent around 35,000 Ether worth $96 million to a wallet identified as a Kraken exchange deposit address on Aug. 23 at 5:26 pm UTC. 



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