Recently, the Ethereum Foundation executed a sale of 100 ETH, marking its first transaction since publishing its 2024 report on November 8. This sale resulted in revenue of approximately 334,315 DAI, roughly equivalent to $340,000, which will be used to convert cryptocurrencies into cash for the foundation’s ongoing projects.
How Much ETH Has Been Sold This Year?
This latest transaction brings the total ETH sold by the Ethereum Foundation in 2024 to 4,266 ETH. The cumulative revenue from these sales now stands at approximately $11.83 million, with an average price of $2,773 per ETH.
What Is the Foundation’s Sales Approach?
The Ethereum Foundation has emphasized in its annual reports the importance of regularly selling ETH to finance its initiatives and maintain financial health. The generated revenue is intended to bolster essential projects within the Ethereum ecosystem and enhance reserve funds.
The foundation’s ongoing ETH sales aim to ensure consistent financial backing for projects that foster the Ethereum ecosystem’s growth. Such sales are closely observed by the Ethereum community, providing transparency regarding the foundation’s financial strategies.
Key takeaways from the Ethereum Foundation’s transactions include:
- 4,266 ETH sold in 2024, totaling $11.83 million in revenue.
- Strategic sales to support essential Ethereum projects.
- Foundation holds reserves of $970.2 million, with a majority in ETH.
- Sales closely monitored by the community for transparency.
The ETH sales and the foundation’s careful reserve management exemplify efforts to navigate market volatility and establish a sustainable financial foundation for future projects.