Ethereum Foundation continues to sell ETH. In 2024, the Ethereum Foundation sold ETH at least 6 times. On August 24, the Foundation sold up to 35,000 ETH.
From the Ethereum Foundation (EF)'s selling records, every time the Foundation sold ETH, the price of ETH almost fell, or multiple sales happened at the staged price highs, causing some people to jokingly call the Foundation a "coin selling expert".
As a non-profit organization dedicated to supporting the development of Ethereum and related technologies, the main task of the Ethereum Foundation is to provide funding and support for innovative projects within the community.
Since it is essentially an organization that constantly needs to spend money, it is inevitable to sell ETH to fund ecological development. In order to maximize profits, the Foundation naturally hopes to sell ETH at a high price.
However, for ETH holders, the Foundation's selling behavior is often interpreted as pessimism about the future of ETH, which further shakes the confidence of coin holders, and the selling behavior also exacerbates the price drop of ETH. In the case of continued low ETH prices, the Foundation's selling is undoubtedly adding insult to injury.
Some ETH holders even began to worry about how long the foundation can maintain its funds if it continues to sell off like this? If the foundation sells all ETH, how can it continue to support the development of the Ethereum ecosystem in the future?
On September 5, Justin Drake, a core researcher at the Ethereum Foundation, responded that the foundation's current annual budget is about $100 million. According to current price estimates, the foundation still holds $650 million in ETH in its wallet. Roughly estimated, these funds can cover the budget for the next 10 years.
Conclusion: Potential performance of Bitcoin and Ethereum after the interest rate cut in 2024
