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Ethereum Foundation’s Strategic Sales Continue to Predict Market Tops, Latest Sale Precedes 17% Drop
The Ethereum Foundation has once again demonstrated its exceptional market timing with the latest sale of 100 ETH on December 17, which preceded a significant 17% price decline. This is not an isolated incident, as the Foundation’s trading patterns have consistently shown remarkable accuracy in identifying local market tops throughout 2024.
An analysis by Lookonchain reveals that over the past year, the Ethereum Foundation has executed 32 separate ETH sales, totaling 4,466 ETH worth approximately $12.6 million at an average price of $2,824 per ETH. What is more striking is that a staggering 15 of these trades have coincided with local market tops, marked in red in Lookonchain’s analysis.
The recent seven sales conducted by the Foundation show a consistent pattern of successful market timing. These transactions include:
* December 17: 100 ETH sold at $4,025, followed by a 16.94% decline
* December 10: 100 ETH at $3,743, preceding a 6.48% drop
* November 12: 100 ETH at $3,403, leading to a 10.84% decrease
* October 30: 100 ETH at $2,709, followed by an 8.53% decline
* October 23: 100 ETH at $2,574, with a subsequent 5.64% drop
* October 15: 100 ETH at $2,580, preceding a minor 0.67% decrease
* October 9: 100 ETH at $2,428, followed by a 3.40% decline
The Ethereum Foundation’s selling strategy appears to be carefully calculated, with most trades involving round lots of 100 ETH, although some larger sales have occurred. The largest single sale in recent months was 450 ETH on September 9, sold for approximately $1,035,407 at an average price of $2,303 per ETH.
Current market data supports the Foundation’s recent timing, as Ethereum is currently down 10.8% in the last 24 hours and 15.8% over the past week, with a 15.5% decline over two weeks. Despite this bearish trend, longer-term performance remains positive, with a 5.1% gain over 30 days and a 48.7% increase year-over-year.
The Ethereum Foundation’s consistent ability to identify local tops raises questions about their trading strategy and access to market information. While they maintain transparency by publicly recording these transactions, the sophistication of their approach suggests either sophisticated market analysis or deep insight into network metrics.
As the cryptocurrency market continues to fluctuate, it is essential for investors to take note of this remarkable pattern and reevaluate their investment strategies in light of these findings.
Source: www.cryptonewsz.com
