Most of the people here see in a black and white situation In good times, when the market was thriving crypto was the best cryptocurrency and was supposedly be able to replace normal currency and was about to go 100k Now just in a matter of weeks, cryptocurrency is a scam and fraud. It will…
Read more
Apparently, the Ethereum Foundation employs incredible traders. Once again, they managed to cash out at the very top. On November 16th, ETH was worth an all-time high of $4891. On the very next day, the Ethereum Foundation sent 20,000 ETH to Kraken and sold them. Is this suspicious at all? Not per se, but this is the second time that they pull the same magic move. Related Reading | Why The Ethereum Foundation Launched A Client Incentive Program A professional trader that goes by the name Edward Morra on Twitter was the first to spot the trade. “Friendly reminder that ETH foundation cashed out at the top (again). ETH down 40+% since then,” he said. Morra also provided a chart that shows ETH’s sharp decline in price since the sale. $ETHFriendly reminder that ETH foundation cashed out at the top (again). ETH down 40+% since then pic.twitter.com/Bp80hEDvK0 — Edward Morra (@edwardmorra_btc) January 21, 2022 To add insult to injury, the Ethereum Foundation only paid $20 in gas fees. That might be the most impressive feat of them all. At the time of writing, the Ethereum Foundation’s wallet holds 353,318 ETH, which is approximately $835K at current prices. What Do We Know About The Organization’s Previous Sell-Off? Back to Morra, his Twitter followers told him that this information was of no use to them this late in the game. The trader surprised the world and pulled an ace up his sleeve. As it turns out, Morra tweeted about the trade at the time it happened. Not only that, he warned them, “They cashed out 35k ETH on 17th of May this year, marked on the chart.” Casual 20k ETH cashout by EthDev, sent to Kraken:https://t.co/w6AbdeW2AJThey cashed out 35k ETH on 17th of May this year, marked on the chart 👇 pic.twitter.com/sTbUwHSzD4 — Edward Morra (@edwardmorra_btc) November 11, 2021 As you can see on the chart, on May 17th the price of ETH was near its previous peak. And after the Ethereum Foundation sold, ETH trended down for months and months. Is this a coincidence? Does the foundation employ great traders? Or, is there something else to this story? Did they dump on retail ETH holders? Did the Ethereum Foundation know anything that the rest of the world didn’t? The Ethereum Foundation still holds 394,787 ETH, and Vitalik said he persuaded foundation to sell 70,000 ETH at the top of 2018 to support the work of developers. This is a normal operation, but it also means that the Foundation thought that bear market is coming. — Wu Blockchain (@WuBlockchain) May 21, 2021 At the time of the first sell-off, journalist Colin Wu highlighted the trade and said, “The Ethereum Foundation transferred 35,000 Eth to the Kraken Exchange on May 17. Vitalik said bubbles could have ended already on May 20.” Analyzing the move, Wu said, “This is a normal operation, but it also means that the Foundation thought that bear market is coming.” The gas fee for this operation was 0.00240474 ETH, or $5.66 at the time of writing. Wow. ETH price chart for 01/25/2022 on Bitfinex | Source: BTC/USD on TradingView.com What’s The Ethereum Foundation Anyway? According to Ethereum’s official site: “The EF is not a company, or even a traditional non-profit. Their role is not to control or lead Ethereum, nor they are the only organization that funds critical development of Ethereum-related technologies. The EF is one part of a much larger ecosystem.” The Ethereum Foundation distributes funds to developers via the Ecosystem Support Program and the Fellowship Program, organizes Devcom, and more. To do all that, they surely need Fiat currency in some capacity. The trade makes sense from that angle. Related Reading | Ethereum Foundation Devs Discuss ETH2 Launch & Economics The question, though, is, did they know that a crash was coming? And if they did, did they reach that conclusion through technical and on-chain analysis or by… other methods? Featured Image by PatriestB on Pixabay | Charts by TradingView
The software behemoth Google has reportedly started a new blockchain-based division inside its Labs group. The division will also deal with other distributed computing and data storage technologies. While the company has been wary of associating with any form of cryptocurrency, Bill Ready, Google’s president of commerce, stated on January 19 they were paying a […]
submitted by /u/moha_tns921 [link] [comments]
Hi It is strange how many in here bash cardano. I mean if someone wants free moons you can title your post "cardano is overrated" and a flood of praises will follow. Cardano has many advantages comparing to other L1 projects: Academic team who are actively researching new horizons and publishing papers. Novel double layer…
Read more
submitted by /u/Minute_Reflection_65 [link] [comments]
Bithumb users in South Korea have just two days to perform another round of KYC in order to whitelist their personal wallets, or crypto withdrawals will be blocked.
PRESS RELEASE. INTERNET CITY, DUBAI, Jan. 25 2022 – LBank Exchange, a global digital asset trading platform, will list ADENE (ADEN) on January 27, 2022. For all users of LBank Exchange, the ADEN/USDT trading pair will be officially available for trading at 18:00 (UTC+8) on January 27, 2022. The gambling industry has become an empire […]
submitted by /u/berthings-shed [link] [comments]
The pop-culture princess gifted everyone in the audience at ‘The Tonight Show’ with an NFT from her new upcoming collection with Super Plastic.
