On July 10, a wallet linked to the Ethereum Foundation (EF) sold 1,210 Ether (ETH), Ethereum’s native cryptocurrency, according to data from the Arkham Analysis site.
According to Lookonchain, these operations were performed The average price is around $2,890 According to ETH, the total amount is around 3.5 million USD.
These movements occur when the etheric value is rebounded. The price of this token is quoted above $3,000, It has increased by more than 8% over the past 24 hours.
As reported by Cryptonotics, the Ethereum Foundation has been unhappy with the sale of ETH, and the Ethereum community has not been happy to receive this news.
In January, the organization announced that it would explore alternatives to Decentralized Financial Protocol (DEFI) To avoid this type of liquidation, It is perceived by many as bearish pressure on the price of ether.
In that sense, people said: «I am completely defeated. I have been active for years, buying this on a continuous basis, waiting to one day stop this. Starting tonight, I have left my position completely at Ethereum. Why do you do this? What is ETH A1.200?
Another user also expressed dissatisfaction with the social network. “They are trying to kill me.”These reflect some discomfort before the operation.
However, EF member Hsiao-Wei Wang came out to clarify that the sale was made by argot.org. Entities that have recently been disconnected from the foundation.
He also shared the EF Publications on July 4th. Provides operational funding Three years to support Solidity’s development, Ethereum’s intelligent contract critical programming languages, and other open source infrastructure essential to the network.
This suggests that EF funds Argot.org, but certain sales of ETH were carried out by argot.org rather than directly by argot.org. The wallets that have been sold are linked to the EF to which the funds exchanged are theoretically belong to, but Wang’s explanation points to the new organization being responsible for operations.