Ethereum

Rally

2024

The Ethereum Foundation – a non-profit entity that supports the second-largest blockchain – sold 100 ETH for 334,315.7 DAI on November 12th.
The sale represents the foundation’s first ETH transaction since releasing its 2024 report last week.
<h2 id="ethereum-foundation-s-eth-sales">Ethereum Foundation’s ETH Sales</h2>
According to the popular blockchain analytics platform ‘Spot On Chain,’ 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 <a href="https://x.com/spotonchain/status/1856270334070308964" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">conducted</a> 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 <a href="https://cryptopotato.com/vitalik-buterin-clarifies-why-the-ethereum-foundation-sells-eth/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">addressed</a> 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 Ethereum’s security and reliability, contributing to the blockchain’s uninterrupted operation since 2016.
In a recently published financial report for 2024, the Ethereum Foundation <a href="https://cryptopotato.com/this-is-how-much-crypto-the-ethereum-foundation-holds/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">revealed</a> 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 foundation’s 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.
<h2 id="ether-s-price-growth">Ether’s Price Growth</h2>
ETH’s price remained unfazed by the latest offloading. The world’s 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 <a href="https://sosovalue.com/assets/etf/us-eth-spot?" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">reached</a> a new record of $295.5 million, with BlackRock’s ETHA and Fidelity’s FETH each attracting $100 million.
The post <a href="https://cryptopotato.com/ethereum-foundation-resumes-eth-selling-amid-price-rally/" rel="noopener noreferrer nofollow">Ethereum Foundation Resumes ETH Selling Amid Price Rally</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Ethereum Foundation Resumes ETH Selling Amid Price Rally

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