Ethereum Foundation denies suspicions it transferred $58 million of ETH in effort to lower liquidation price
Quick Take On Monday night, the blockchain research channel Lookonchain posted that “a wallet suspected to be Ethereum Foundation deposited” over 30,000 ETH “to lower the liquidation price.”
An Ethereum Foundation spokesperson took to social media on Tuesday to deny a claim that the organization had transferred $57 million of ETH to Maker.
This came after Monday night when the blockchain research channel Lookonchain posted to X that "a wallet suspected to be Ethereum Foundation" deposited 30,098 ETH "to lower the liquidation price."
In response to the post, Ethereum Foundation spokesperson Joseph Schweitzer posted Tuesday that the information is "fake." In fairness, Lookonchain's post about the possibility of the transfer coming from the foundation showed that Arkham Intelligence had placed a "?" next to the mentioned wallet, likely signifying Arkham was also unsure if it belonged to the organization.
At the time of writing the 30,098 ETH was worth about $58 million.
Ethereum's declining price has made the cryptocurrency increasingly vulnerable to liquidations. The Ethereum Foundation is a non-profit focused on developing the world's second-largest blockchain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+
The article analyzes the TGE performance of multiple blockchain projects, evaluating project performance using three dimensions: current price versus all-time high, time span, and liquidity-to-market cap ratio. Projects are then categorized into five grades: S, A, B, C, and D. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC
Russian households have invested 3.7 billion rubles in cryptocurrency derivatives, mainly dominated by a few large players. INTERPOL has listed cryptocurrency fraud as a global threat. Malicious Chrome extensions are stealing Solana funds. The UK has proposed new tax regulations for DeFi. Bitcoin surpasses $91,000. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.
How much is ETH really worth? Hashed provides 10 different valuation methods in one go
After taking a weighted average, the fair price of ETH exceeds $4,700.
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost
People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.
Trending news
MoreCrypto prices
More
