According to Foresight News, the Ethereum Foundation recently sold 100 ETH in exchange for 334,315.7 DAI. This transaction marks the first sale of ETH by the foundation since the release of its 2024 report on November 8. The report highlighted that as of October 31, the foundation's asset reserves totaled $970.2 million, with $788.7 million in crypto assets, 99.45% of which are held in ETH.
The Ethereum Foundation has outlined plans to regularly sell ETH to fund essential public projects and maintain its reserves. By the end of 2024, the foundation has cumulatively sold 4,266 ETH, generating $11.83 million at an average sale price of approximately $2,773 per ETH. This strategic approach aims to ensure the foundation's financial stability while supporting the ongoing development and sustainability of the Ethereum ecosystem.
