Ethereum Foundation Sold More Eth While Price Falls

Despite leadership conflicts and community backlash, Ethereum Foundation has kept on selling ETH from treasury with it now dumping another 100 ETH while the crypto market witnessed sharp price drops in the early morning.

Data shared by Lookonchain shows that the foundation multisig sold another 100 ETH for 307,893 DAI through CoW Protocol. Ethereum Foundation has sold over 13 million of ETH so far this month.

According to Coinmarketcap data , ETH price has fallen over 7 in the past 24 hours as the broader market sentiment turns bearish with Bitcoin dropping to 99,000. Coinciding these leaders, many altcoins have also taken double digit drop in market price.

ETH is currently trading at 3,057, down 7.40 from its daily high of 3,434 as per market data. The total trading volume for ETH has inflated tremendously over 130 in 24 hours.

The unexpected downtrend on 27th January early morning brought a major sell-off in crypto market with it liquidating over 660 million of long and short positions combined. This bearish selling accelerated further ahead of Monday market opening in the U.S.