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Ethereum Foundation Completes Sale of 10,000 ETH for Ecosystem Support

Ethereum Foundation Completes Sale of 10,000 ETH for Ecosystem Support

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by Giorgi Kostiuk

4 hours ago

The Ethereum Foundation has sold 10,000 ETH to SharpLink Gaming in a deal aimed at funding research and development within the Ethereum ecosystem.

Ethereum Foundation's Sale of ETH

The Ethereum Foundation confirmed the sale of 10,000 ETH, valued at approximately $25.7 million, in an over-the-counter transaction with SharpLink Gaming. The funds will be used to support research and development for the Ethereum ecosystem.

SharpLink Gaming Integrates ETH as Asset

Proceeds from the sale are set to fund Ethereum's research and development efforts in the coming months. SharpLink Gaming becomes the first publicly traded firm to utilize ETH as a treasury asset, planning to stake the assets for enhanced network security.

Historical Sales and Market Impact

The Ethereum Foundation previously sold 100,000 ETH in 2020 during market peaks. Such actions typically influence market sentiment, which may lead to liquidity assessments. The latest sale may support long-term ETH price stability as institutions secure their stakes.

The sale of 10,000 ETH to SharpLink Gaming marks a significant move in fostering institutional interest in Ethereum and improving its ecosystem.

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