The Ethereum Foundation continues its active sales strategy in 2024. Today, it sold 200 ETH for $528,000 DAI via Cow Protocol. This event adds to the foundation's record of regular transactions.
ETH Sales in 2024
Since the beginning of the year, the foundation has been actively selling its assets. The first significant sale of this year occurred in January, when ETH worth $1.6 million was sold, causing a 4% drop in ETH’s price. In September, the foundation sold 950 ETH totaling approximately $2.27 million. On average, the foundation sells ETH every 11 days, accumulating $9.67 million in sales so far.
Ethereum Market Movements
Ethereum has seen significant market movement in 2024. In March 2024, the cryptocurrency price peaked at $4,066, a 66% increase. However, the price has since dropped and is currently trading at $2,645.
Historical Sales and Market Impact
Since January 2021, the Ethereum Foundation has sold approximately 239,000 ETH, totaling $654 million. These sales are closely monitored by market participants due to their potential impact on ETH’s price. The foundation’s activities, along with broader market conditions, often contribute to price fluctuations, keeping investors watchful of future transactions.
The Ethereum Foundation continues its sales policy, influencing ETH price fluctuations. Investors remain vigilant, monitoring the foundation’s future actions.
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