On-chain data shows an Ethereum developer sending a massive batch of Ether to Kraken’s exchange
According to Etherscan, the Ethereum Foundation has once again sent tens of thousands of Ether to Kraken.
- Etherscan recorded the transaction only hours ago at 2:56 PM UTC
- The transaction shows an Ethereum dev sending a contract of 20 000 Ether to Kraken’s public address. That’s worth over $95 million at today’s prices.
- A similar transaction took place on May 17th, when another developer sent 35 000 Ether to the exchange. Those were worth $112 million at the time.
- The Ethereum Foundation is a non-profit organization that supports Ethereum and its developers. They provide both financial and non-financial support to the broader ecosystem and have sold Ether in the past to provide it.
- According to blockchain analyst Colin Wu, the Foundation owned nearly 400 000 Ether as of May 21st.
- Ethereum has broken numerous highs as of late and currently trades above $4 700. Citadel’s CEO even considers it superior to Bitcoin.