Ethereum Foundation’s Sell-Off Continues

According to Spot On Chain analysts, the Ethereum Foundation is consistently selling off large quantities of Ethereum.

The entity has recently sold another 300 ETH for 763,092 stable DAI coins, which amounts to approximately $707,330 in fiat currency.

The Ethereum Foundation sold 100 $ETH for 226,868 $DAI again ~ 1 hour ago.

Note that the Ethereum Foundation has consistently sold $ETH in small batches weekly for the past 3 weeks, totaling 650 $ETH ($1.51M) at ~$2,323.

Follow @spotonchain for more updates on the… https://t.co/CZ4fVly2RO pic.twitter.com/IbnR1lkPUr

— Spot On Chain (@spotonchain) September 16, 2024

This sale is not an isolated case; earlier this month, on September 9, the foundation sold 100 ETH for 226,868 DAI, worth about $235,780.

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Over the past three weeks, the foundation has sold a total of 650 ETH at an average price of $2,323, which amounts to about $1.51 million.

Deyan Angelov

Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.