Ethereum Foundation Continues ETH Sales to Support Projects

The Ethereum $3,248 Foundation, responsible for the Ethereum platform, conducted a sale of 100 ETH approximately one hour ago. This marks the first ETH sale since the release of its 2024 report on November 8. The sale generated 334,315 DAI (around 340,000 dollars), enabling the foundation to convert cryptocurrencies into cash to support its projects.

2024 ETH Sales Amount to 4,266 ETH

With this latest sale, the Ethereum Foundation has sold a total of 4,266 ETH throughout 2024. The total revenue from these sales is approximately 11.83 million dollars, with an average sale price of 2,773 dollars per ETH.

While conducting these sales, the foundation states that it has strategically considered the market conditions for Ethereum and other cryptocurrencies. According to recent disclosures, as of October 31, 2024, the Ethereum Foundation’s asset reserves have reached 970.2 million dollars, with 788.7 million dollars of this amount in cryptocurrencies, 99.45% of which is held in ETH.

Ethereum Foundation’s Sales Strategy

The Ethereum Foundation has indicated in its annual reports that ETH sales will be regularly conducted to support its projects and ensure financial sustainability. The foundation plans to utilize the revenue generated from sales to support essential projects within the Ethereum ecosystem and strengthen its reserves.

By consistently conducting ETH sales, the foundation aims to provide ongoing financial support for projects contributing to the growth of the Ethereum ecosystem. These sales are closely monitored by the Ethereum community and provide a transparent perspective on the foundation’s financial actions.

The ETH sales conducted by the Ethereum Foundation throughout 2024, along with its strategic reserve management, are seen as efforts to enhance resilience against market fluctuations in the cryptocurrency space and to establish a sustainable financial structure.