The Ethereum Foundation has continued its ongoing sales of Ethereum (ETH) in 2024, selling 200 ETH for $528,000 DAI today. According to Arkham’s monitoring, the sale occurred between 16:02 and 16:16 UTC+8 via Cow Protocol, with the funds transferred to another foundation address.
The Ethereum Foundation has been actively selling ETH throughout the year, with consistent transactions recorded. In early January, the foundation sold ETH worth $1.6 million, causing a 4% drop in ETH’s price at that time.
In September, the foundation sold 950 ETH, totaling approximately $2.27 million, with sales occurring roughly every 4-7 days. On average, the foundation has sold ETH every 11 days in 2024, accumulating $9.67 million worth of sales so far. This includes a notable August transfer of 35,000 ETH to Kraken, valued at around $95 million at the time.
Ethereum itself has seen significant market movement over the past year. The cryptocurrency experienced a 66% price increase, reaching a peak of $4,066 in March 2024. However, ETH’s price has since dropped and is currently trading at $2,645.
Historically, since January 2021, the Ethereum Foundation has sold approximately 239,000 ETH, amounting to $654 million.
These ongoing sales are closely monitored by market participants due to their potential impact on Ethereum’s price. The foundation’s activity, along with broader market conditions, has contributed to price fluctuations in the cryptocurrency, keeping investors watchful of future transactions.
