Recent Ether Sales by the Ethereum Foundation
- Over the past three weeks, the Ethereum Foundation has divested 950 ETH, approximately valued at $2.2 million.
- On September 20, 300 ETH were sold for approximately $760,000, coinciding with Ethereum’s price surging above $2,500.
The Ethereum Foundation has made headlines again by liquidating 300 ETH, amounting to over $760,000.
On-chain metrics reveal that this sale occurred at an average price of $2,543, demonstrating a minor increase from the day’s low of $2,440.
Previously, the organization had paused its selling activity for a brief period, but resumed on September 20 as prices began to rise.
Frequent Selling Patterns of the Ethereum Foundation
On September 6, a sale of 100 ETH for $226,868 marked the beginning of a consecutive series of sales. This brought the total amount sold over three weeks to 650 ETH, valued at roughly $1.5 million.
According to analysis from Spot On Chain, the foundation has sold a cumulative total of 950 ETH since early September, leading to total earnings exceeding $2.2 million, at an average sale price of $2,392.
The Ethereum Foundation has sold $ETH… again!
In the past 20 minutes, they sold another 300 $ETH for 763,092 $DAI.
Overall, since the beginning of September, they have offloaded 950 $ETH ($2.27M) at an average price of $2,392. Read more pic.twitter.com/jloNPcoHqZ
— Spot On Chain (@spotonchain) September 20, 2024
Yearly Selling Trends
In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million. This brought the total divested amount for the year to 1,766 ETH, approximately exceeding $4.8 million in total sales up to that point.
The latest sale followed Ethereum’s recent price rally from under $2,200 earlier this month.
As of now, ETH is trading around $2,552, reflecting a 5% rise in the last 24 hours and a notable 8.5% increase over the past week.
These price movements are attributed to Bitcoin’s surge past $63,000 following a recent Federal Reserve interest rate cut by 0.5%.
Moreover, earlier reports indicated the reactivation of five dormant Bitcoin wallets from the Satoshi era, which transferred a total of 250 BTC.
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