Is There a Possibility of Ethereum Foundation Liquidation with a Price Drop? Here Are The Details - Coin Bulletin

As the decline in the Ethereum (ETH) price continues, doubts about the Ethereum Foundation's actions have caught the attention of investors.

The decline in the price of Ethereum in recent days has brought new discussions in the market, which closely monitors the movements of large investors. Notably, a wallet purportedly owned by the Ethereum Foundation (Ethereum Vakfı) recently deposited 30,098 ETH into the Maker platform, attempting to lower the liquidation price. This move, "Is the Ethereum Foundation taking hedging against the decline in ETH prices?" ** raised the questions.

According to data shared by Lookonchain, the wallet in question holds a total of 100,394 ETH (yaklaşık $182 million değerinde) on Maker**, and the current liquidation price is set at $1,127.06. But soon after, a statement by Wu Blockchain clarified the situation.

Can Be An Early Investor, Not A Foundation

In its correction on the matter, Wu Blockchain stated that it is more likely that the wallet in question does not actually belong to the Ethereum Foundation, but rather to jonny.eth, one of Ethereum's early investors****. This information was confirmed based on the wallet's historical transaction data and initial ETH funding traces**.

In May 2022, this wallet received a transfer of **4 million DAI from the Ethereum Foundation's ETH sale, and today it deposited 30,098 ETH into the MakerDAO vault, receiving approximately 78 million DAI in debt.

This weakened the Ethereum Foundation's claims of direct sales and strengthened the possibility that the ETH selling pressure in the markets could come from other large investors.