Ethereum Foundation Monetizes Market Momentum for $11 Million Cash Out on Kraken
Large early Ethereum holders continue to monetize the networks historic success, carefully taking advantage of local waves of market optimism. Two wallets directly linked to the Ethereum Foundation transferred 4,393 ETH (approximately $11.1 million) to the Kraken exchange. This transaction is not an impulsive move but part of a carefully planned 10-year strategy. Over the past decade, a total of 49,751 ETH has been sent from these addresses to exchanges. The average selling price was a modest $658 by todays standards, although it is worth noting that these coins were originally acquired in the projects early days, when ETH was worth less than a dollar. Timing vs. ETFs: How the market absorbs millions from early Ether holders The latest round of distribution has caught the second-largest cryptocurrency by market capitalization in the midst of an important technical showdown. ETH/USD has settled around $2,550, hovering just above its 50-day moving average. For buyers, this line currently serves as the main short-term shield. As long as the level holds, the market still has a chance to challenge local resistance at $2,651. Meanwhile, the long-term trend remains intact, with the key 200-day moving average sitting much lower, around $2,136, confirming that the markets broader structure remains bullish. ETH/USD daily
