Ethereum

2024

Foundation

Spot

<ul class="wp-block-list">
 <li><strong>The Ethereum Foundation sold 100 ETH for DAI, marking its first ETH sale since releasing its annual report.</strong></li>
 <li><strong>The sale is part of the foundation’s strategy to fund public projects and maintain its financial reserves.</strong></li>
</ul>
<p>Today, the Ethereum Foundation made another significant move in its ongoing strategy to fund public projects and maintain reserves. For the first time since releasing its annual report, the foundation <a href="https://thenewscrypto.com/ethereum-bulls-eye-4k-milestone-as-momentum-builds/" target="_blank" rel="noopener noreferrer nofollow">sold 100 ETH</a>, swapping the cryptocurrency for the stablecoin DAI. This transaction followed a similar move in late October, where the Ethereum Foundation offloaded another 100 ETH in exchange for 270,800 DAI.</p>
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 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">The Ethereum Foundation sold 100 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> for 334,315.7 <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$DAI</a> again ~25 minutes ago.<br><br>This is the first <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> sale since <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ethereum</a> Foundation released its 2024 report on Nov 8, showing asset reserves at $970.2M as of Oct 31, with $788.7M in crypto (99.45% in <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>).<br><br>The Ethereum… <a href="https://t.co/IzASQ55sRp" rel="noopener noreferrer nofollow">https://t.co/IzASQ55sRp</a> <a href="https://t.co/f7kNyQy3g7" rel="noopener noreferrer nofollow">pic.twitter.com/f7kNyQy3g7</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1856270334070308964?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 12, 2024</a>
 </blockquote>
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<p class="has-text-align-left">According to the Spot On Chain, the sale of 100 ETH on November 12 brought in 334,315.7 DAI, adding to the foundation’s reserves. In 2024 alone, the foundation sold a total of 4,266 ETH for approximately $11.83 million, averaging a price of $2,773 per ETH. This strategic approach allows the Ethereum Foundation to maintain its financial stability while continuing to fund key public initiatives that support the Ethereum ecosystem.</p>
<h3 class="wp-block-heading" id="h-ethereum-foundation-s-reserves-support-its-future">Ethereum Foundation’s Reserves Support Its Future</h3>
<p>As of October 31, 2024, the Foundation reported holding $970.2 million in assets, with $788.7 million stored in cryptocurrency. A staggering 99.45% of these holdings are in ETH, further emphasizing the foundation’s commitment to Ethereum’s future.</p>
<p>Vitalik Buterin, the co-founder of ETH, has previously explained that these <a href="https://thenewscrypto.com/ethereum-foundations-ongoing-eth-selling-spurs-investor-concerns/" target="_blank" rel="noopener noreferrer nofollow">regular ETH sales</a> are necessary to ensure the foundation has the necessary funds for development and to keep the ecosystem sustainable. With over 272.30K ETH ($883.296M) still in its reserves, the Ethereum Foundation remains a crucial player in the ongoing growth and success of Ethereum.</p>
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Ethereum Foundation Sold 100 ETH for DAI to Strengthen Reserves

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