The Ethereum Foundation Completes First ETH Sale of the Year
The Ethereum Foundation recently concluded its first Ethereum (ETH) sale of the year in a challenging market environment. Despite the difficult conditions, the non-profit organization remains steadfast in its mission.
Key Highlights
- 100 ETH exchanged for 329,463 DAI on Jan. 8
- Foundation still holds over $900 million worth of ETH
- 4,466 ETH sold for $12.61 million in 2024
- Average price of $2,823 per unit achieved in previous sales
Foundation’s ETH Sales Pattern
SpotOnChain data reveals an interesting pattern in the Ethereum Foundation’s ETH sales. Previous sales often preceded significant market downturns, indicating a strategic approach to managing assets.
Market Impact
Following the recent ETH sale, Ethereum’s price experienced a sharp decline. In the past 24 hours, the digital asset’s value dropped by over 12%, reaching a low of $3,308 before a slight recovery to $3,338 at the time of writing.
This price volatility has led to significant liquidations, with Coinglass reporting nearly $100 million in speculative bets on Ethereum being liquidated within a single day.
