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According to on-chain data, the Ethereum Foundation made a significant ETH movement in the past few hours.
Chain analytics company look chain reports that the ETH Foundation transferred 1,200 ETH worth $2.36 million to the grant provider’s wallet.
Last month, the “Grant Provider” specific wallet exchanged over 1,700 ETH for $2.7 million in USDC with the intention of selling.
The Ethereum Foundation also made other moves, transferring 75 ETH worth $148,000 to the “0x180c” wallet in the past few hours, according to Lookonchain.
In a similar sense, Arkham Intelligence reports a significant movement of ETH by the Ethereum Foundation, with wallet 0x9eE transferring 1066 ETH to a new multi-signature wallet.
Although many possibilities remain regarding the move, it is unclear what the actual reason for the transfer is.
Ethereum, the second-largest cryptocurrency, saw a swinging price movement over the past day, reaching highs of $2,100 before retreating to $1,909.
At the time of writing, ETH was still trading below $2,000 and was down 6% in the last 24 hours to trade at $1,951.
In a positive development, BlackRock, the world’s largest asset manager, has filed an S-1 form with the United States Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, an exchange-traded fund (ETF). ) of Ether spot.
The price of Ethereum initially rose in response to the presentation, but subsequently returned to its previous levels.
