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On April 22, 2025, a wallet identified as belonging to the Ethereum 
$2,370 Foundation transferred 1,000 ETH to the Kraken exchange. This transaction, valued at approximately 1.58 million dollars, raised concerns about increased selling pressure in the cryptocurrency market. The recent price volatility has led to a cautious atmosphere among traders. According to analysis platform Lookonchain, this transfer signals that major players within the Ethereum ecosystem are beginning to act again.
Foundation Wallet Movements Draw Attention
The wallet in question is notable for previously receiving over 84,000 ETH from the Ethereum Foundation. Acquired nearly a decade ago at just 1.20 dollars, this ETH now approaches a value of 134 million dollars. This information suggests that the re-entry of long-held large ETH positions into the market could be a troubling signal for investors.
The activity did not stop with the Kraken transfer; other transactions from the same wallet have also come to light. Reports indicate that a total of 5,000 ETH was sent to trading firm Cumberland DRW in two separate transactions. The first transfer was approximately 7.31 million dollars, while the second was about 8.92 million dollars. The consecutive occurrence of such large transactions strengthens the view that there may be significant selling pressure in the market. Transfers of this nature, particularly during times when support levels are being tested, tend to increase price pressure.
Ethereum’s Privacy Roadmap and Price Uncertainty
Recently announced by Ethereum co-founder Vitalik Buterin, the new privacy-focused roadmap has sparked interest within the technical community. The proposal aims to establish private transactions as a standard practice. However, there are various opinions regarding the feasibility of this approach. Notably, the integration of zero-knowledge proofs is considered a high-skill and time-consuming process.
According to market data, Ethereum experienced a 1.61% loss in value over the last 24 hours, with trading volume reaching a significant 15.85 billion dollars. While short-term downward trends are evident in price charts, traders are focused on whether support levels can be maintained. It has been observed that transfers from large wallets trigger a search for liquidity, indicating that the market is still seeking direction. In this atmosphere of uncertainty, investors are behaving more cautiously towards sudden price movements.
