The Ethereum Foundation ā a non-profit entity that supports the second-largest blockchain ā sold 100 ETH for 334,315.7 DAI on November 12th.
The sale represents the foundationās first ETH transaction since releasing its 2024 report last week.
According to the popular blockchain analytics platform āSpot On Chain,ā in 2024 alone, the Ethereum Foundation sold 4,266 ETH, raising $11.83 million at an average price of $2,773 per token. In September, the foundation sold 1,250 ETH, then worth approximately $3.07 million, followed by 300 ETH valued at $759,000 in October. These sales were conducted in nearly weekly batches over the two months.
As a result, the foundation has faced questions from the community about why it chooses to sell rather than stake its ETH holdings. In response, Ethereum co-founder Vitalik Buterin addressed these concerns, explaining that the sales in question fund critical initiatives, such as compensating researchers and developers who drive technological advancements.
He highlighted that proceeds also support privacy-enhancing zero-knowledge (ZK) technology, user-friendly account abstraction, and global events promoting Ethereum. According to Buterin, these initiatives have strengthened Ethereumās security and reliability, contributing to the blockchainās uninterrupted operation since 2016.
In a recently published financial report for 2024, the Ethereum Foundation revealed that its treasury held $970.2 million, comprising $788.7 million in crypto and $181.5 million in non-digital asset investments. Over 99% of the foundationās crypto holdings are in ETH, making up 0.26% of the total ether supply.
The Ethereum ecosystem as a whole has $22.2 billion in treasury reserves, managed by foundations, organizations, and DAOs, with the Ethereum Foundation overseeing 4.4% of this total. In terms of funding, the ecosystem deployed $457 million in 2022-2023, with the Ethereum Foundation contributing nearly half at $240.3 million.
ETHās price remained unfazed by the latest offloading. The worldās second-largest cryptocurrency by market cap has been riding high, continuing its bullish momentum since last week, gaining over 33% during that period and currently trading above $3,230.
Meanwhile, flows into spot Ethereum ETFs reached a new record of $295.5 million, with BlackRockās ETHA and Fidelityās FETH each attracting $100 million.
The post Ethereum Foundation Resumes ETH Selling Amid Price Rally appeared first on CryptoPotato.
The sale represents the foundationās first ETH transaction since releasing its 2024 report last week.
Ethereum Foundationās ETH Sales
According to the popular blockchain analytics platform āSpot On Chain,ā in 2024 alone, the Ethereum Foundation sold 4,266 ETH, raising $11.83 million at an average price of $2,773 per token. In September, the foundation sold 1,250 ETH, then worth approximately $3.07 million, followed by 300 ETH valued at $759,000 in October. These sales were conducted in nearly weekly batches over the two months.
As a result, the foundation has faced questions from the community about why it chooses to sell rather than stake its ETH holdings. In response, Ethereum co-founder Vitalik Buterin addressed these concerns, explaining that the sales in question fund critical initiatives, such as compensating researchers and developers who drive technological advancements.
He highlighted that proceeds also support privacy-enhancing zero-knowledge (ZK) technology, user-friendly account abstraction, and global events promoting Ethereum. According to Buterin, these initiatives have strengthened Ethereumās security and reliability, contributing to the blockchainās uninterrupted operation since 2016.
In a recently published financial report for 2024, the Ethereum Foundation revealed that its treasury held $970.2 million, comprising $788.7 million in crypto and $181.5 million in non-digital asset investments. Over 99% of the foundationās crypto holdings are in ETH, making up 0.26% of the total ether supply.
The Ethereum ecosystem as a whole has $22.2 billion in treasury reserves, managed by foundations, organizations, and DAOs, with the Ethereum Foundation overseeing 4.4% of this total. In terms of funding, the ecosystem deployed $457 million in 2022-2023, with the Ethereum Foundation contributing nearly half at $240.3 million.
Etherās Price Growth
ETHās price remained unfazed by the latest offloading. The worldās second-largest cryptocurrency by market cap has been riding high, continuing its bullish momentum since last week, gaining over 33% during that period and currently trading above $3,230.
Meanwhile, flows into spot Ethereum ETFs reached a new record of $295.5 million, with BlackRockās ETHA and Fidelityās FETH each attracting $100 million.
The post Ethereum Foundation Resumes ETH Selling Amid Price Rally appeared first on CryptoPotato.
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