Ethereum Foundation Sells 100 ETH for DAI to Fund Future Projects and Maintain $9.7 Billion Reserve

WikiBit 2024-11-12 18:40

In a recent transaction, the Ethereum Foundation executed the sale of 100 ETH for approximately 334,315.7 DAI, as reported by Spot On Chain monitoring on

In a recent transaction, the Ethereum Foundation executed the sale of 100 ETH for approximately 334,315.7 DAI, as reported by Spot On Chain monitoring on November 12th.

This marks the first time the foundation has engaged in ETH liquidation since the release of its 2024 financial report on November 8th.

The report detailed that the foundations total asset reserves stood at $9.702 billion as of October 31st, with a significant $7.887 billion categorized in crypto assets, of which 99.45% is comprised of Ethereum (ETH).

Moving forward, the Ethereum Foundation has outlined plans to periodically divest ETH to finance critical public projects and bolster its asset reserve.

To date in 2024, it has disposed of 4,266 ETH, generating $11.83 million, with an average sale price approximating $2,773 per ETH.

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