About an hour ago, he spotted a large cryptocurrency transfer moving $2 million worth of ETH. Another DLT tracker @OnchainDataNerd also noticed the move and reported it on his X application page.
The trade follows a slight uptick in the price of ETH after its recent 4.23% drop. Nevertheless, Ethereum remains above the key $2,000 mark.
Ethereum Foundation transfers 1,000 ETH
Lookonchain said in a recent X post that the Ethereum Foundation has transferred 1,000 ETH worth $2 million to secure the multi-signature wallet “0x4e6b”. Safe is an Ethereum chain-based wallet.
Earlier this year, it was reported that several similar ETH blocks had appeared in the same multi-signature wallet – 1,000 ETH nearly three months ago and another 1,000 ETH nearly half a year ago. The purpose of these transactions remains unclear, and no Ethereum representative has yet commented.
However, the ETH community is starting to jump to conclusions. Today’s ETH transfer sparked a heated discussion on the @lookonchain thread, as ETH holders took interest in the target of this large Ethereum transaction.
Some commenters believe that the Ethereum team led by Vitalik Buterin is gradually selling off his company’s ETH reserves, while they have directed criticism at the Ethereum Foundation and its frontman Vitalik. Many people in the comments wondered whether the price of ETH would fall further as a result.
Cardano Founder Criticizes Buterin and ETH Staking Redesign Plan
As USA Today reported over the weekend, Buterin recently gave an interview in Turkey where he answered questions from the local ETH community. When asked about Ethereum’s roadmap, Buterin said that something needs to be done about ETH staking as many users do not find ETH’s mechanics easy or convenient to use, pouring a lot of technical details into his audience.
Cardano founder Charles Hoskinson, who was also part of the team that created Ethereum with Buterin, said, “Don’t worry, Ethereum 3.0 will solve all the problems.
Previously, Ethereum’s staking model came under heavy criticism from Hoskinson, as users were unable to unlock their stakes until an update to Ethereum 2.0 was actually released, ensuring that the blockchain moved from a proof-of-work to a proof-of-stake consensus algorithm. ETH has been around for a few years.
The Ethereum merged upgrade was released last September, allowing the chain to run on proof-of-stake, and ETH was not allowed to be unstaked until the next upgrade earlier this year, known as Shanghai.
At the time, Hoskinson emphasized on several occasions that the then-Cardano founder called this the fundamental difference between the Cardano and Ethereum blockchains.
