Ethereum’s price has burst out of its channel, surging above $3,800 in a remarkable move. However, a closer look reveals a intriguing development. The Ethereum Foundation, the organization behind the cryptocurrency, has transferred 35,000 ETH (worth $94.07 million) to Kraken Deposit, sparking speculation about its intentions. According to Arkham, Ethereum Foundation (0xde0) transferred 35,000 ETH to Kraken Deposit (0xd86), worth about $94.07 million. The foundation should be selling coins for daily expenses. https://t.co/sflRHzkE6C — Wu Blockchain (@WuBlockchain) August 24, 2024 While the foundation likely needs to liquidate some assets for daily expenses, its wallet still holds an impressive $840 million
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