The Ethereum Foundation has sold another 100 ETH for 262,474 DAI. This sale continues the foundation’s trend of selling Ethereum assets, reflecting ongoing financial strategies. So far in 2024, the Ethereum Foundation has directly sold a total of 3,766 ETH for approximately 10.46 million DAI through CoWSwap. It sold $100 $ETH in its previous transaction as well. It has gained an average selling price of around $2,777 per ETH, according to Spot On Chain.
The Ethereum Foundation sold another 100 $ETH for 262,474 $DAI about 10 minutes ago!So far in 2024, the Ethereum Foundation has directly sold 3,766 $ETH for 10.46M $DAI via #CoWSwap at an average price of $2,777. Notably, 1,250 $ETH ($3.06M) has been sold in September alone.… https://t.co/OFQiC42V4t pic.twitter.com/PBgaBxZtjr
— Spot On Chain (@spotonchain) September 30, 2024
Ethereum Foundation Sells 1,250 ETH in September
The foundation has been especially busy in September and sold 1,250 ETH. The value of these tokens is approximately $3.06 million. This suggests a marked shift to unlock value from its assets as market conditions change, it has to unlock value from its holdings. On September 23, the foundation again used the asset management approach and sold 200 ETH for 527,989 DAI.
Ethereum Foundation Focuses on Transparency with Ongoing Asset Management Strategy
The Ethereum Foundation has recently made some sales. These sales have drawn lot of attention from investors and analysts in the market. The strategy of the foundation seems to be to maintain as much cash as possible while dealing with the peculiarities of the crypto market. That is why, the actions of the foundation may also be aimed at promoting further developments of Ethereum since it continues its updates, including the improvement of the network.
As the crypto market is constantly developing, the actions of the Ethereum Foundation, reported by Spot On Chain, in terms of asset management will remain center of attention in the market. The public will be interested in knowing how these sales affect the price of ETH and the market trends. These transactions demonstrate the foundation’s transparency. In these transactions, it ensures that it stays relevant and continues to support future projects throughout the Ethereum community.
