💰 𝑬𝒕𝒉𝒆𝒓𝒆𝒖𝒎 𝑭𝒐𝒖𝒏𝒅𝒂𝒕𝒊𝒐𝒏 𝑺𝒆𝒍𝒍𝒔 100 𝑬𝑻𝑯 𝑾𝒐𝒓𝒕𝒉 $420𝑲! 🏦

The Ethereum Foundation has recently sold 100 $ETH equivalent to approximately $420,470, adding to its series of sell-offs this year. This transaction contributes to a total of 4,466 ETH sold in 2024, amounting to about $12.62 million.

Ethereum co-founder Vitalik Buterin has previously stated that such sales are conducted to fund public projects and maintain the foundation's reserves. Despite these explanations, the frequency of these sales has raised concerns within the crypto community about potential impacts on ETH's market price.

Notably, this recent sale occurred shortly before the anticipated listing of a spot Ethereum ETF, leading to speculation about its timing and potential market implications.

What are your thoughts on the Ethereum Foundation's strategy of selling ETH? Do you believe it affects the market positively or negatively? Share your opinions below! 💬

𝗙𝗼𝗿 𝗱𝗮𝗶𝗹𝘆 𝗮𝘂𝘁𝗵𝗲𝗻𝘁𝗶𝗰 𝗻𝗲𝘄𝘀 𝘂𝗽𝗱𝗮𝘁𝗲𝘀, 𝗳𝗼𝗹𝗹𝗼𝘄, 𝗹𝗶𝗸𝗲, 𝗮𝗻𝗱 𝘀𝗵𝗮𝗿𝗲! 𝗧𝗵𝗮𝗻𝗸𝘀 𝗳𝗼𝗿 𝗿𝗲𝗮𝗱𝗶𝗻𝗴, 𝗮𝗻𝗱 𝘀𝘁𝗮𝘆 𝘁𝘂𝗻𝗲𝗱 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝘂𝗽𝗱𝗮𝘁𝗲𝘀 𝗮𝗻𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀.

Source: Coinpedia, CryptoNews, Ethereum Foundation Blog