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Ethereum Foundation sells 1700 ETH: What now?

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On-chain data from Arkham Intelligence showed that the Ethereum [ETH] Foundation sold 1,700 ETH, and exchanged it for

The assets left on the Ethereum Foundation wallet after the sale include 240.67 ETH, 49,658 DAI, 10,125 ARB, and 7,096 USDC. Meanwhile, ETH dropped below $1,600.However, the foundation did not abruptly sell the altcoins without a prior plan. According to Arkham, the non-profit organization sent the coins from its Gnosis Safe Proxy wallet five days ago.

However, a look at the foundation’s X page showed that it was unclear why the coins were sold.of the sale as the price dropped by 1.45 % within 2 hours that the action took place. As a result, the coin price fell below the $1,600 threshold, which it had held for a while. But how about traders?was 0.87. Typically, values over 1 of this indicator suggest more long positions than shorts. Conversely, a Long/Short Ratio of less than 1 means that there are more short positions than long.

 

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