Top Signal? Ethereum Foundation Sells $374,000 ETH on Decentralized Exchange
2024-12-11
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The Ethereum Foundation, the non-profit organization funding the critical development of Ethereum-related technology, has moved 100 Ether ETHUSDT tokens other than decentralized exchange CowSwap. The funds were then sold for the DAI stablecoin.
According to data from on-chain analysis service Lookonchain, the Ethereum Foundation has sold a total of $12.2 million so far this year after its latest $374,000 sale, meaning it has sold a total of 4,366 ETH.
After nearly a month, the #Ethereum Foundation sold 100 BINANCE:ETHUSDT($374K) again.#Ethereum Foundation has sold a total of 4,366 BINANCE:ETHUSDT($12.2M) this year.https://t.co/aEdJQoOeuv pic.twitter.com/5G86uykxSc
Ethereum’s ETH is at the time of writing trading at $3,640 after losing around 5.75% of its value over the last 24-hour period amid a wider cryptocurrency market drawdown that has seen several digital assets plunge by more than 12% over the same period.
It’s worth noting that the Ethereum Foundation famously cashed out ETH before at the very top of the bull market, moving 20,000 ETH to popular cryptocurrency exchange Kraken when the cryptocurrency was trading close to $4,900, its all-time high.
Earlier, the Foundation moved 35,000 ETH to Kraken after Ethereum’s co-founder Vitalik Buterin had suggested the cryptocurrency market could be set to turn around.
Data shows that the Ethereum Foundation’s wallet currently still holds $991 million worth of cryptocurrency with Ethereum making up $990.04 million of those holdings, having 269,469 ETH on it. The Foundation also has 214 wrapped Ether (WETH), $94,000 worth of DAI, $100,000 worth of DAI, and $37,000 worth of USDC.
Its holdings, according to Arkham Intelligence data, also include 47.15 BNB worth over $32,000, 31,800 ARB worth around $30,000, and other minor holdings.
Featured image via Unsplash.