In a significant move, the Ethereum Foundation has deposited 35,000 ETH, valued at approximately $94.07 million, into Kraken, one of the major cryptocurrency exchanges.
As per the Etherscan’s data, this transaction, recorded on the blockchain through contract address 0xde0B295669a9FD93d5F28D9Ec85E40f4cb697BAe, has raised eyebrows in the crypto community.
The deposit could influence ETH’s price, either by boosting liquidity or signaling a sell-off. Kraken’s involvement underscores its significant role and may prompt discussions on exchange security and liquidity.
Also Read: Ethereum Price Faces Volatility as Whales Offload $60M ETH
