😱 ETH Sold While Prices Plummet! Foundation’s “Brilliant” Move? 🚀

In the twilight of market confidence, the vaunted Ethereum Foundation, amidst the cacophony of leadership squabbles and the community’s chagrin, has once again demonstrated its peculiar genius. As if to mock the very essence of stability, they’ve cast another 100 ETH into the market’s maw, reaping a modest 307,893 DAI via the CoW Protocol. A veritable bonanza, as they’ve managed to offload over $13 million in ETH this month alone. 🎉

The #Ethereum Foundation sold another 100 $ETH($308K) 2 hours ago!#Ethereum Foundation has sold a total of 4,766 $ETH($13.6M) since Jan 2, 2024.
— Lookonchain (@lookonchain) January 27, 2025

As if in a symphony of despair, the ETH price has taken a swan dive, plummeting over 7% in the past 24 hours, a spectacle as grand as Bitcoin‘s own descent to $99,000. The altcoins, not to be outdone, have joined in the chorus of devaluation with double-digit plunges of their own. 🎢

ETH now hovers at $3,057, a meager shadow of its former self, down 7.40% from its daily high. Yet, in a twist of irony, the total trading volume has swelled to a most impressive 130%. One must applaud the efficiency of panic. 🏆

The market’s unexpected exsanguination on the 27th saw over $660 million in positions meet their maker, a grand farewell to overvalued dreams. And as the bear market roared its arrival, ETH’s value teetered on the precipice of $3,000—a support level as sturdy as a house of cards. 🃏

Just as ETH threatened to embark on a bullish rally, the market, with a cruel jest, yanked the rug from beneath its feet. Meanwhile, Vitalik Buterin and his cohorts at the Ethereum Foundation have kept the headlines abuzz with their own brand of alchemy, backing Etherealize—a venture as promising as a mirage in the desert. 🌵

In a testament to the market’s volatility, the global crypto market has taken a 7% nosedive, with trading volumes soaring to $153 billion—a 90% surge that would be laudable in any other context. 🚀

2025-01-27 15:17

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