The Drop in Ethereum Price Concerns Increased as the Ethereum Foundation Redeployed $3M in ETH.

Quick Summary:

In an unprecedented turn of events, the Ethereum Foundation, a non-profit organization jacking up Ethereum, shifted noteworthy amounts of ETH to a multisign address today, raising eyebrows across the global crypto community.

The transfer, worth nearly $3 million ETH, has in turn ignited speculations orbiting Ethereum’s future price trajectory.

Multisign addresses are extremely secure wallets, utilizing a crypto encryption technique that requires two or more unique digital signatures to authorize a transaction.

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Article Details

Category: Crypto

Markets: India

Topics: 24/7 Cryptocurrency News Ethereum News Ethereum Foundation Ethereum (ETH)

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-08 @ 21:27:32 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 449 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20915911

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Main Topics: Crypto

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