- Ethereum Foundation’s History of ETH Sales
- Vitalik Buterin Moves STRK Holdings
- Ethereum Foundation Spends on Internal Team and Grants Programs
The Ethereum Foundation used the Cow Swap protocol to sell another batch of 100 ETH. This event is part of the Foundation's general policy of supporting its budget through asset sales.
Ethereum Foundation’s History of ETH Sales
The latest transaction went through Cow Protocol, a decentralized service for MEV bot protection and route optimization for asset exchange. The Foundation received 241.2K DAI after the Cow Protocol settlement transaction. Selling ETH by the Foundation is a routine practice aimed at ensuring the budget for its plans. Historically, this practice includes selling at both local market highs and lows, including at a $600 price point in 2020. In 2021, sales peaked when ETH prices exceeded $4,700. Recently, two weeks ago, the Foundation moved 35K ETH to Kraken amid market turbulence, and also liquidated significant amounts of ETH in March 2024. Despite ongoing sales, the Foundation holds 382.46K ETH, surpassing Grayscale which holds 261K coins. Although the Foundation's actions are not considered a source of market pressure, they often erode confidence in ETH prices.
Vitalik Buterin Moves STRK Holdings
In another significant transaction, Ethereum co-founder Vitalik Buterin moved previously received Starknet (STRK) tokens. More than 2M STRK tokens were transferred to a new address after interacting with one of Buterin's known wallets. These tokens, valued at $838.8K, are part of early allocations to investors. Buterin was an early investor in Starknet (STRK), which raised $6M in seed funding. Since its launch in March 2024, the price of STRK has decreased from a peak of $2.40 to $0.40.
Ethereum Foundation Spends on Internal Team and Grants Programs
The Ethereum Foundation has been transparent about its spending efforts. Internal spending includes teams working on Solidity issues, cryptography, incentive groups, the Devcon project, Ethereum.org, and onboarding. External spending involves grants, both virtual and live events. The Foundation supports local communities and organizes hackathons worldwide. In Q2, the Foundation awarded more than $8M to small-scale projects.
The Ethereum Foundation continues its policy of selling ETH to support its budget, influencing the market. At the same time, the project is focused on internal development and ecosystem support through grant programs.
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