The Ethereum Foundation has been active in selling portions of its ETH holdings throughout the year, generating considerable funds. According to data from 0xScope, the Foundation sold a total of 6,646 ETH from January 2 to October 23, bringing in approximately $17 million by exchanging ETH for DAI.
Breakdown of the Ethereum Foundation’s Sales Transactions
Since the beginning of the year, the Ethereum Foundation conducted 37 separate transactions, selling between 50 and 200 ETH per transaction. The first sale took place on January 2, and the most recent one on October 23. In total, the Foundation sold 4,066 ETH on CowSwap at an average price of $2,764 per ETH, yielding roughly $11.24 million.
Additionally, an Ethereum Foundation-linked wallet that initially received 51,251 ETH in 2015 transferred 2,580 ETH (worth around $6.24 million) to Bitstamp and Kraken exchanges over the past two months. The average price for these transfers was calculated at $2,417.
The Significance of the Ethereum Foundation’s ETH Sales
The Ethereum Foundation’s transactions reflect its strategy to diversify holdings and enhance liquidity. Historically, the Foundation has been transparent with the community about such sales, emphasizing that the funds raised are aimed at supporting projects within the Ethereum ecosystem.
These sales have drawn attention from both the Ethereum community and the wider market, as the Foundation’s moves are known to influence ETH prices. At present, Ethereum’s mainnet token ETH is trading at $2,490, having declined 2.24% in the last 24 hours. Data indicates a 5.17% drop in the past week. Compared to its all-time high of $4,891 on November 16, 2021, ETH is now trading 49.03% below this peak.
Ethereum Foundation, ETH sales, DAI, CowSwap
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