The Ethereum Foundation, a key player in ETH development, has once again attracted attention with the sale of 100 ETH for 329,463 DAI. This move has sparked interest and debate in the crypto community.
ETH Sale by the Ethereum Foundation
According to Onchain data, the Ethereum Foundation sold 100 ETH and obtained 329,463 DAI. In 2024, the foundation sold 4,466 ETH worth $12.61 million at an average price of $2,823. It's noteworthy that the foundation's sales often occur before sudden drops in altcoin prices.
Vitalik Buterin's Commentary
Ethereum founder Vitalik Buterin stated that the sales are made to keep the organization operational, pay out grants, and compensate developers. Although Buterin is sometimes criticized for selling ETH, he asserts that these sales are almost never for personal purposes.
Market Situation Analysis
As of this writing, the ETH price stands at $3,310. The losses over the past 24 hours were measured at 3.15%.
The recent sales by the Ethereum Foundation continue to be a topic of discussion among analysts and market participants. While sales are justified to ensure the organization’s operations, their timing concerning price changes draws additional attention.
