Ethereum Foundation Sells 100 ETH Again to Support Key Projects

Ethereum Foundation Sells 100 ETH Again to Support Key Projects

• The Ethereum Foundation sells 100 ETH to fund ecosystem development, boosting innovation.
• Standard Chartered sees potential $10K ETH with crypto-friendly regulatory shifts.

Again, the Ethereum Foundation just sold 100 ETH for 334,315.7 DAI, marking the first substantial ETH sale since the release of its 2024 annual report on November 8. This deal shows how the Foundation uses its assets to strategically finance initiatives inside the Ethereum ecosystem.

According to Spot On Chain, at an average selling price of $2,773 per ETH, the Foundations whole ETH sold in 2024 exceeds 4,266 ETH, therefore generating over $11.83 million in total income with this most recent sale.

The Ethereum Foundation sold 100 $ETH for 334,315.7 $DAI again ~25 minutes ago.

This is the first $ETH sale since @Ethereum Foundation released its 2024 report on Nov 8, showing asset reserves at $970.2M as of Oct 31, with $788.7M in crypto (99.45% in $ETH).

— Spot On Chain (@spotonchain) November 12, 2024

Ethereum Sales Strategy Aims for Sustainable Growth Amid Market Optimism

According to co-founder Vitalik Buterin of Ethereum, such sales are required to cover running expenses, including pay for developers and researchers trying to improve the Ethereum network.

He has underlined before that the ensures the platforms growth is sustainably funded and meticulously assesses every sale to prevent any notable disturbance of the market.

Although some Ethereum members have voiced worries about the possible influence of these sales on ETHs price, market data indicates that the general attitude among ETH holders is still somewhat positive.

On-chain analytics platform Glassnode points out that Ethereum‘s Net Unrealized Profit/Loss (NUPL) statistic puts ETH holders in an optimistic zone, one connected with great confidence and a bullish view of ETH’s future price trajectory.

Consistent sales of the Ethereum Foundation fit a longer-term funding plan meant to sustain Ethereums momentum of development.

The Foundation‘s deliberate approach guarantees stakeholders that these sales complement Ethereum’s objective of enhancing its infrastructure and capabilities as the ecosystem grows to enable new technologies, including zero-knowledge (zk) rollups, privacy solutions, and security advancements.

Meanwhile, reflecting a increase over the last 24 hours, ETH is trading at about $3,253.38 as of writing. Rising over 50% to reach $69.06 billion, its trading volume reflects increasing market interest and involvement.

On the other hand, CNF previously that Standard Chartered predicts ETH might reach $10,000 in a favorable regulatory environment, especially if crypto-friendly laws develop under a Trump-led government, therefore stimulating further investment in Ethereum.