The Ethereum Foundation will sell 300 ETH when the price reaches $2.5k
The Ethereum Foundation has sold 950 ETH worth more than $2.2 million in the last three weeks. On September 20, the price of Ethereum rose above $2,500 and the nonprofit sold 300 ETH for more than $760,000.
The Ethereum Foundation has once again released more Ether tokens, this time dropping 300 ETH worth more than $760,000.
According to chain data, the foundation sold 300 ETH on Friday at an average price of $2,543 – a 5% increase from the intraday low of $2,440.
In recent days, the company has made some breaks in sales. Before a brief period of stability, following a price freeze, the Ethereum Foundation became one of the main holders of ETH. But on September 20, the waste continued again.
EF sold Ether every 4-7 days
On September 6, the Ethereum Foundation sold 100 ETH for $226,868. The sale brought the foundation's total volume to 650 ETH in three weeks, worth $1.5 million.
According to on-chain insight platform Spot On Chain, the non-profit organization has sold 950 ETH since early September. These sales totaled more than $2.2 million, with an average sale price of $2,392.
The Ethereum Foundation sold its native Ethereum token every 4-7 days, on-chain data shows.
Ethereum Foundation Sells $ETH… Again!
In the last 20 minutes they sold another 300 $ETH for 763,092 $DAI.
In total, since the beginning of September, the Ethereum Foundation has sold 950 $ETH ($2.27M) at an average of $2,392, with sales every 4-7 days.… pic.twitter.com/jloNPcoHqZ
— Spot On Chain (@spotonchain) September 20, 2024
In May 2024, the Ethereum Foundation sold 1,000 ETH for more than $3 million, making a year-to-date total of 1,766 ETH sold for more than $4.8 million.
The latest dump, another big one, comes after Ethereum's price dipped below $2,200 earlier this month.
At the time of writing, ETH traded at about $2,552, up roughly 5% over the past 24 hours and +8.5% over the past week.
These gains come as Bitcoin's price surged above $63,000 after the Fed moved to cut interest rates by 0.5% this week.
Earlier, CoinJournal reported that five Satoshi-era Bitcoin wallets, which had been dormant for 15 years, woke up and transferred 250 BTC.
