< img width="300"height="178"src="https://cdn.coingape.com/wp-content/uploads/2021/11/12101345/Ethereum-Bulls-vs-Bears.jpeg"class=" attachment-medium size-medium wp-post-image "alt =" Ethereum"design ="float: right; margin:0 0 10px 10px;"/ >< img width= "800"height=" 474" src=" https://cdn.coingape.com/wp-content/uploads/2021/11/12101345/Ethereum-Bulls-vs-Bears.jpeg "class ="attachment-full size-full wp-post-image"alt =" Ethereum "style="float: right; margin:0 0 10px 10px;"/ > A large Ethereum ($ ETH)deal sent to Kraken stood out of the crypto community. An overall of 20K $ETH estimated to be worth$100 million was transferred to Kraken, however more than the worth the sender of the ETH ended up being a hot subject of conversation, as it was sent by Ethereum Foundation. Etherscan information shows that a deal from Ethereum Foundation was made at 14:56 UTC on 11th November.
The Etherscan data also revealed that the transaction was made by among the ETH devs rather comparable to another ETH deal estimated to be worth $112 million on May 17. This big deal was followed by a massive market dump resulting in a 61% decrease in ETH rate. Now lots of have actually started to speculate the exact same concerning today’s transaction also.
Mr Whale, an infamous Twitter account understood for providing sceptic viewpoints versus the common standard of bullish outlook pointed towards the Etherscan information and advised his fans about the 61% dump when a comparable deal was done six months back.
Will Ethereum Price Record Another Massive Dump?
Ethereum was trading above $4,000 when another Ethereum Foundation transferred around 35K ETH, following which the second-largest cryptocurrency fell to sub $1,700 levels prior to recovering in the last number of months. $ETH is presently trading at $4,637 about 3.5% listed below the ATH of $4,859, the altcoin has tape-recorded numerous brand-new ATHs over the past number of weeks, quite similar to what took place in May very first week prior to the market dump.