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The Ethereum Foundation continues its strategic $ETH sales, offloading another 100 $ETH for $252,491 DAI just a few minutes ago. This transaction adds to the foundation’s cumulative total of 4,066 $ETH sold throughout 2024, accumulating $11.22 million at an average price of $2,760 per $ETH.
The Ethereum Foundation further sold 100 $ETH for 252,491 $DAI ~10 minutes ago.
— Spot On Chain (@spotonchain) October 23, 2024
So far in 2024, the Ethereum Foundation has sold 4,066 $ETH for $11.22M at an average price of $2,760. This includes 1,250 $ETH ($3.07M) sold in September and 300 $ETH ($759K) sold in October, with… https://t.co/NgKpgUWY98 pic.twitter.com/uBuQ1Ektjd
The foundation has maintained steady sales, particularly in recent months, with 1,250 ETH sold in September for $3.07 million and 300 $ETH in October, amounting to $759,000. SpotOnChain, an on-chain crypto analytical firm reported the details through its official X account.
The Ethereum Foundation has gradually sold significant portions of its holdings this year. These sales have followed a pattern of small batches, emphasizing maintaining steady liquidity. September saw the most activity, with over 1,250 $ETH sold across multiple transactions. The trend extended into October, with 300 $ETH offloaded, maintaining the strategic focus on capitalizing at optimal price points.
$11.22 Million in Revenue for the Ethereum Foundation
$ETH sales have remained steady over the year, and the foundation has realized over $11.22 million as it continues to capitalize on good market conditions. The majority of these transactions occurred at prices nearing $2,760 per ETH. The frequency of these sales indicates careful management of $ETH reserves to avoid market disruption while optimizing returns.
The foundation has sustained a near-weekly sales rhythm in the past two months. This includes the most recent sale of 100 $ETH for $252,491 DAI. With 4,066 ETH sold this year, the foundation has efficiently managed liquidity while ensuring market stability.
Ethereum Price Analysis
Over the past 24 hours, Ethereum ($ETH) has experienced a 2.13% dip and now costs $2,575.74.Market capitalization is $310.10 billion, and trading volume is down by 14.94%. market capitalization is $310.10 billion, while trading volume has decreased significantly by 14.94%.
Despite an early high of $2,644, Ethereum’s price followed a steady downward trajectory throughout the day. The volume-to-market cap ratio is at 4.43%, and the total supply remains constant at 120.39 million $ETH, highlighting some stability in supply despite recent market volatility.