Bittime - The worldwide crypto community was shocked when the Ethereum Foundation, a non-profit organization tasked with boosting Ethereum, moved a large amount of ETH to a multisign address today. This is an unprecedented event. Speculation about Ethereum's future price trajectory emerged following the transfer of nearly $3 million ETH.
Previous transfers typically occurred just before an Ethereum price drop, according to the data. It is very safe to use multisign wallets that use crypto encryption techniques that require two or more different digital signatures to authorize transactions.
Check Today's Crypto Market:
Ethereum Foundation Transfer to Multisign Address
According to data provided by on-chain analytics platform Spotonchain, the Ethereum Foundation has moved 1000 ETH to the middle multisign address 0xbc9 today, May 8. Additionally, since the start of 2024, the Ethereum Foundation has sold 1,766 ETH for 4.81 million DAI to the same address at an average price of $2,725.
How to Buy Crypto:
Sales Transactions from the Ethereum Foundation
Ethereum Foundation sales transactions occur in small groups using the multisign wallets mentioned above. Even more interesting, the price of ETH drops after most transactions occur.
This news comes as the price of Ethereum is trading in the red, raising concerns about possible future price drops, but it is also important to consider the state of the market as a whole.
Check Crypto Prices Today:
Declining Price of Ethereum (ETH)
LETH price streak decreased significantly, showing a decline of 3.14% in the last 24 hours. With a market capitalization decline of 3.12%, the token price is currently trading at $3,002. Intraday trading volume fell 14.96%, with a low of $2,979.73 and a high of $3,104.93.
With the accumulation and dumping occurring in the market, the future of the token remains uncertain. Additionally, ETH regulations are uncertain regarding its security issues.
How To Buy Ethereum (ETH) With Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with ETH IDR pairing.
To be able to buy ETH tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Ethereum (ETH) on Bittime.
Monitor price chart movements of Ethereum (ETH), Bitcoin (BTC), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read More:
Ethereum Volatility Informs About Ethereum's Wild Fluctuations
Ethereum Price Problem: Is Ethereum Price Recovery in Danger?
Understanding Ethereum Transaction
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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