Ethereum Foundation Initiates New Multisig Wallet Transfer
According to @icebearhww, the Ethereum Foundation has established a new 3-of-5 multisig wallet through @safe, with an operation to transfer 50,000 ETH underway. Traders should note potential delays due to signing requirements, affecting liquidity and potential short-term ETH price movements.
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On January 20, 2025, the Ethereum Foundation announced the establishment of a new 3-of-5 multisig wallet, with the address 0x9fC3dc011b461664c835F2527fffb1169b3C213e. This move was accompanied by an operation to transfer 50,000 ETH to the new wallet, as reported by @icebearhww on Twitter (X) (source: @icebearhww, January 20, 2025). The transfer operation was still in progress at the time of the announcement, with potential delays due to the requirement for multiple signatures. As of 10:00 AM UTC on January 20, the Ethereum price was $2,500, reflecting a slight increase of 1.2% from the previous day (source: CoinMarketCap, January 20, 2025). The trading volume for ETH/USD on major exchanges such as Binance and Coinbase saw a significant spike, with Binance reporting a 24-hour trading volume of $1.2 billion and Coinbase at $800 million (source: CoinGecko, January 20, 2025). This volume surge indicates heightened interest and potential market impact from the Ethereum Foundation's actions.
The announcement of the new multisig wallet and the planned transfer of 50,000 ETH had immediate implications for the Ethereum market. As of 11:00 AM UTC on January 20, the ETH/USD pair experienced a sharp increase to $2,550, a 2% rise within an hour of the announcement (source: TradingView, January 20, 2025). This rapid price movement was mirrored in other trading pairs, with ETH/BTC rising to 0.065 BTC, a 1.5% increase (source: Binance, January 20, 2025). The spike in trading volumes and price movements suggest that traders were reacting positively to the news, anticipating potential future developments from the Ethereum Foundation. Furthermore, the on-chain metrics showed an increase in active addresses, with 400,000 unique addresses interacting with the Ethereum network in the last 24 hours, up by 10% from the previous day (source: Etherscan, January 20, 2025). This indicates a surge in network activity, likely driven by the announcement.
Technical indicators for Ethereum as of 12:00 PM UTC on January 20 showed bullish signals. The Relative Strength Index (RSI) for ETH/USD was at 68, indicating strong buying pressure without being overbought (source: TradingView, January 20, 2025). The Moving Average Convergence Divergence (MACD) line crossed above the signal line, suggesting a bullish trend continuation (source: TradingView, January 20, 2025). The trading volume on the ETH/USD pair on Binance reached $1.3 billion by 1:00 PM UTC, a 20% increase from the morning, further confirming the market's positive reaction to the news (source: CoinGecko, January 20, 2025). Additionally, the 50-day moving average for ETH/USD was at $2,450, and the price was trading above this level, reinforcing the bullish outlook (source: TradingView, January 20, 2025). The on-chain data also showed a significant increase in the number of large transactions, with over 100 transactions exceeding 1,000 ETH in the past 24 hours, up by 30% from the previous day (source: Glassnode, January 20, 2025). This data suggests that institutional investors and whales were actively participating in the market, further supporting the bullish sentiment.
The announcement of the new multisig wallet and the planned transfer of 50,000 ETH had immediate implications for the Ethereum market. As of 11:00 AM UTC on January 20, the ETH/USD pair experienced a sharp increase to $2,550, a 2% rise within an hour of the announcement (source: TradingView, January 20, 2025). This rapid price movement was mirrored in other trading pairs, with ETH/BTC rising to 0.065 BTC, a 1.5% increase (source: Binance, January 20, 2025). The spike in trading volumes and price movements suggest that traders were reacting positively to the news, anticipating potential future developments from the Ethereum Foundation. Furthermore, the on-chain metrics showed an increase in active addresses, with 400,000 unique addresses interacting with the Ethereum network in the last 24 hours, up by 10% from the previous day (source: Etherscan, January 20, 2025). This indicates a surge in network activity, likely driven by the announcement.
Technical indicators for Ethereum as of 12:00 PM UTC on January 20 showed bullish signals. The Relative Strength Index (RSI) for ETH/USD was at 68, indicating strong buying pressure without being overbought (source: TradingView, January 20, 2025). The Moving Average Convergence Divergence (MACD) line crossed above the signal line, suggesting a bullish trend continuation (source: TradingView, January 20, 2025). The trading volume on the ETH/USD pair on Binance reached $1.3 billion by 1:00 PM UTC, a 20% increase from the morning, further confirming the market's positive reaction to the news (source: CoinGecko, January 20, 2025). Additionally, the 50-day moving average for ETH/USD was at $2,450, and the price was trading above this level, reinforcing the bullish outlook (source: TradingView, January 20, 2025). The on-chain data also showed a significant increase in the number of large transactions, with over 100 transactions exceeding 1,000 ETH in the past 24 hours, up by 30% from the previous day (source: Glassnode, January 20, 2025). This data suggests that institutional investors and whales were actively participating in the market, further supporting the bullish sentiment.