Ethereum Whale Activity Triggers Sell-Off Concerns: 96,955 ETH Transferred

Ethereum’s price experienced a significant drop after reports of large transfers from prominent investors and the Ethereum Foundation triggered concerns about a possible sell-off. Two major actors in the crypto space made noteworthy moves within a short timeframe, raising alarms among analysts. 84,513 ETH were sent to Kraken by the Ethereum Foundation just last year when ETH was valued at around $1.20. A recent transfer of 1,000 ETH from the foundation, a significant amount equivalent to nearly $1.6 million, has prompted speculation about long-term holders taking profits.