Key facts
- Two Ethereum Foundation-linked wallets deposited 4,393 ETH to Kraken.
- The deposited ETH is valued at approximately $11.13 million.
- These wallets originally received 59,751 ETH from the Ethereum Foundation 10 years ago.
- Over the past decade, these wallets have deposited a total of 49,751 ETH to Kraken.
- In May, the Ethereum Foundation unstaked 21,271 ETH valued at nearly $49.66 million.
Two wallets associated with the Ethereum Foundation have transferred approximately $11.13 million worth of Ether to the cryptocurrency exchange Kraken, according to on-chain data. The monitoring platform Lookonchain reported that the wallets deposited a combined 4,393 ETH.
These wallets originally received 59,751 ETH from the Ethereum Foundation about 10 years ago, when Ether was trading at roughly $0.90. Over the past decade, these wallets have deposited a total of 49,751 ETH to Kraken, with the average estimated price of ETH at the time of these past deposits being around $658.
This latest transfer follows earlier activity, including a May withdrawal by the Ethereum Foundation of 21,271 ETH, valued at nearly $49.66 million, from staking positions via Lido. In February, the foundation had announced an allocation of about 70,000 ETH from its reserves into staking.
The Ethereum Foundation's treasury policy allows for periodic sales of ETH to manage fiat reserves and operating expenses. In April, the foundation sold 10,000 ETH for $23.87 million, and in March, it sold 5,000 ETH for approximately $10.21 million.