Ethereum (ETH), the second largest cryptocurrency for market capitalization, has experienced renewed low pressure in the middle of a generalized market accident. After reaching a maximum of mid -December of $ 4,107, still below its historical maximum of $ 4,868 in November 2021 of $ 4,868, it slid below $ 1,800, marking a 53% drop since its December peak. But while merchants rush to evaluate the depth of this current recession, a new development in the chain has momentarily stole the center of attention.
Is the Ethereum Foundation really?
A transaction marked by the Lookonchain chain analysis service provided alarms this week, which suggests an alleged settlement risk for the Ethereum Foundation (EF). Lookonchain reported through X: “A wallet suspected that was deposited at the Ethereum Foundation 30,098 ETH ($ 56.08m) to manufacture to reduce the liquidation price 5 hours ago. Currently, this wallet has 100,394 ETH ($ 182 million) in Maker, and the liquidation price is $ 1,127.06 “.
The magnitude of the transaction, reported with a value of $ 56.08 million in ETH deposits, established a generalized speculation about the potential exposure of EF. Lookonchain data involved that 30,098 ETH (approximately $ 182 million) were being used to support a Makerdao vault with a liquidation threshold that was around $ 1,127, a fundamental level given the recent price clash.
Crypto Wu Blockchain’s media for Crypto’s communication was one of the first to circulate the story. However, shortly after, Wu Blockchain offered a clarification based on Arkham Intelligence analysis.
The updated analysis indicates that the wallet connections with the Ethereum Foundation may have been exaggerated. It seems that the management belongs to a first ETH inverter that once interacted with the official EF wallets, but since then it has administered funds independently. The 30,098 ETH deposit was presumably a strategic movement to underpin the guarantee and reduce the liquidation price of the Makerdao vault during a market recession.
Wu Blockchain observed through X: “Correction: although 0x22 … 1246 was marked by Arkam as an address of the Ethereum Foundation, the data in the chain confirms otherwise. While this address received a 4M DAI transfer from the ETHereum Foundation ETH -Sale in May 2022, its transaction behavior and its initial financing of Eth tran to Jonny.eth (0xb76), which indicates that it is more likely to be an early ETH inverter instead of the foundation itself. This address deposited 30,098 ETH in the Makerdao vault today, with a pending debt position of 78,035,224,7182 DAI. “
Although the liquidation price remains $ 1,127, a level that some observers believe that they could prove if the market persists, there is currently no official evidence that links the vault with the Ethereum Foundation. Consequently, the rumors of an EF settlement seem to be unfounded, given the clarifications presented by Wu Blockchain based on the Arkham data.
At the time of publication, ETH quoted at $ 1,925.
Outstanding image created with Dall.E, Record of TrainingView.com
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Is the publication at risk the 30,000 ETH of Ethereum Foundation? appeared first at binanx.com.
