The ETH has fallen over 8% as traders are tired of rumors on social media, saying that the Etharium Foundation will be implicated when the price falls to $ 1,100.
Rumors are going on among crypto traders on social media Platform xWith several speculations that the Etharium Foundation may face liquidation of up to $ 100 million if the price of the atherium (ath) falls forward and is $ 1,100 hits.
An X account said, “If the atherium foundation reaches the bottom of the US for below $ 1,100, it definitely ends simulation.”
On X, a businessman said, “The Etharium Foundation is being liquided at $ 1,100, this year’s FTX will be a moment.”
At the press time, Etreum Foundation nor its co-founders have directly addressed these $ 100M liquidity rumors. However, the token is running downwards. In the last week, ATH has been reduced by about 10% in the last week and 28% in the last month.
According to data from crypto.news, Eth has fallen below the range of $ 2,000. It currently exceeds 8% and is trading at a price of $ 1,889. On 10 March yesterday, it decreased even further as $ 1,791. The last time Eth fell below $ 2,000, in late 20123.
Did Eth Liquidation incite rumors?
Most of the traders around a potential atherium Foundation liquidation sprouted due to 30,098 ETH deposits in the manufacturer vault by a wallet related to speculation ethrium Foundation. Many people saw it as a sign that EF was preparing to liquid its holdings. However, ethereum developers eric.eth and sassal.eth rejected The manufacturer owned by the Etharium Foundation to a 30,098 ETH deposit wallet address.
A manufacturer vault is a smart contract used in the mixerdo ecosystem on the atherium that allows users to create and manage collateral debt positions. The wallet currently holds 100,394.447 Eth as collateral with a loan status of 78,035,224.7182 DAI and a liquidation value of $ 1,127.065.
Although the wallet was initially flagged Arkham intelligence As a belonging to the Etharium Foundation, on-chain data suggests that the initial funds for the wallet can be detected back to a trader of an early atherium investor, Joni instead of EF.
A possible reason is that it was marked as an EF wallet, the fact that it received a 4 million DAI transfer from the Etharium Foundation Eth Sale in May 2022.
