Since the beginning of September 2024, the Ethereum Foundation has closed a total of 950 ETH with an Medium selling price of around $2,392, earning about $2.27 million.
Ethereum Foundation Sold $2.27 Million ETH in the Last 20 Days
According to data statistics platform Spot On Chain , the organization behind the Ethereum blockchain recently made a move to "take profit" by adding an additional amount of ETH to receive stablecoin worth nearly $800,000.
Specifically, between 05:10 - 05:41 PM on September 20, 2024, the Ethereum Foundation made 3 transactions on the CoWSwap DEX to sell 300 ETH at an Medium price of $2,543, thereby earning 763,092 Dai stablecoins.
The Ethereum Foundation has sold $ETH… again!
— Spot On Chain (@spotonchain) September 20, 2024
In the past 20 minutes, they sold another 300 $ETH for 763,092 $ Dai .
Overall, since the beginning of September, the Ethereum Foundation has sold 950 $ETH ($2.27M) at an average price of $2,392, with sales occurring every 4-7 days.… https://t.co/tnF0vK1zgs pic.twitter.com/jloNPcoHqZ
With the move to "take profit" of ETH worth 763,092 USD, marking the 4th sale in just the last 20 days of the Ethereum Foundation.
- The first time on September 5th with 100 ETH earned 241,207 Dai stablecoins.
- The second time took place 4 days later, the Ethereum Foundation continued to sell 450 ETH to "pocket" 1.029 million Dai, marking the largest "Dump" of Token in September. Notably, this sale happened on the same day as a similar action from Vitalik Buterin , with about 760 ETH being taken by the Ethereum founder to earn 1.8 million USD at an Medium price of 2,414 USD per coin.
- The third time was on September 16, with 100 ETH "going away" to receive 226,868 Dai.
From the beginning of September 2024 to the present, the organization behind the Ethereum blockchain has "taken profit" a total of 950 ETH with an Medium selling price of around $ 2,392 , to earn about $ 2.27 million . All 4 sales were made by the Ethereum Foundation via the CoWSwap DEX.
The reason why Ethereum Foundation's money transfers are always closely watched by crypto investors is because they often mark temporary peaks of ETH. The current situation is similar, when Bitcoin "overcame thousands of obstacles" to reach 64,000 USD , Ethereum price also increased by nearly 14% to 2,571 USD in the last 7 days.
4h chart of ETH/ USDT pair on Binance exchange at 07:40 PM on 09/20/2024
The Arkham statistics site says the Ethereum Foundation still holds more than $695 million in assets, mostly in ETH. The organization was also recently embroiled in a controversy over its lack of transparency when it was discovered that two key members were sitting on EigenLayer's advisory board , potentially creating a conflict of interest.
Ethereum Foundation Asset Statistics. Source: Arkham (September 20, 2024)
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