The Ethereum Foundation Explained Why It Made Its Latest ETH Sales!

The leading altcoin in the cryptocurrency sector, Ethereum (ETH), has recently been faced with the Ethereum Foundation's #ETH sales. ETH, which has still not been able to make the expected increases due to this seller pressure, is trading at $ 2,800 at the time of writing our news.

As of yesterday, the Ethereum Foundation deposited a total of 35,000 ETH (worth $ 94.07 million) to sell to Kraken. These sales drew a reaction from investors.

The Ethereum Foundation, which has been selling $ETH regularly for a long time, made a statement after the liquidation. Aya Miyaguchi from the #Ethereum Foundation said the following about these sales: “These sales are part of our treasury management activities.

The Ethereum Foundation has an annual budget of approximately $ 100 million, which largely consists of grants and salaries. In addition, some of the buyers can only accept fiat money.

We were advised for a long time not to do any treasury activity this year due to regulatory complications and we were not able to share the plan in advance. Also, this transaction was not a single sale. There will be planned and phased sales from now on.”