The Ethereum Foundation has been selling off its ETH holdings, raising concerns in the crypto community. Recent data shows a significant dump of 150 ETH for 497,250 DAI through the Cow Protocol.
This follows a pattern of consistent sales, with a notable transfer of 92,500 ETH worth $294.9 million to a new wallet. The sell-off coincided with the launch of Spot Ethereum ETFs, which saw net inflows of $33.7 million.
Despite ETH’s price stagnating at $3,300, analysts predict increased volatility ahead of the FOMC meeting. A break above $4,000 is targeted for 2024.
