Ethereum Foundation Moves 200 ETH via Cow Protocol Amid Price Surge

• Ethereum Foundation address sold 200 ETH for $528,000 in DAI today.
• Ethereum’s price surged 2.36%, peaking at $2,675 after the transaction.
• Portfolio analysis shows strong growth, with ETH and DAI holdings highlighted.

The Ethereum Foundation has reportedly conducted a significant transaction, selling 200 ETH worth $528,000 DAI through Cow Protocol between 16:02 and 16:16 UTC+8 today.

This move, tracked by Arkham’s monitoring, saw the funds subsequently transferred to another Ethereum Foundation address. The sale comes as Ethereum’s price climbed to $2,644.11, reflecting a $61.85 increase.

A detailed cryptocurrency portfolio dashboard highlights Ethereum (ETH) and Dai (DAI) assets. Ethereum is displayed at $2,644.11, experiencing a price surge of $61.85. Dai, a stablecoin, remains pegged at $1.00. The portfolio consists of diverse holdings, including 0.525 ETH and 1.052K plus 51.099 DAI, showcasing a well-distributed asset base.

Furthermore, financial graphs show impressive performance throughout 2023. The ‘Balances History’ graph indicates a peak in July 2024, suggesting strategic trades contributed to the portfolio’s value growth. Meanwhile, the ‘Profit & Loss’ chart reveals a dramatic spike, likely the result of favorable market conditions.

Source: Arkham

Ethereum’s price graph showcases the asset’s movement over a single day, starting at 3:00 PM and continuing past 12:00 PM the following day. Initially, the price fluctuated around $2,585 USD, indicating market uncertainty.

However, by 6:00 AM, a notable upward trend emerged, driving Ethereum’s price to a peak of $2,675 USD. This surge likely reflects positive market sentiment or major events influencing buying pressure. The price plateaued around this level, signaling that the new value had gained market acceptance.

Source: CoinMarketCap

With Ethereum’s trading volume exceeding $17.6 billion in the last 24 hours, the transaction by the suspected Ethereum Foundation address highlights the strategic nature of large institutional movements. Such trades can potentially influence market sentiment, especially when they align with broader price trends.