The Ethereum Foundation has continued its ongoing gross sales of Ethereum (ETH) in 2024, promoting 200 ETH for $528,000 DAI right this moment. According to Arkham’s monitoring, the sale occurred between 16:02 and 16:16 UTC+8 by way of Cow Protocol, with the funds transferred to a different basis deal with.
The Ethereum Foundation has been actively selling ETH all year long, with constant transactions recorded. In early January, the muse bought ETH price $1.6 million, inflicting a 4% drop in ETH’s worth at the moment.
In September, the muse bought 950 ETH, totaling roughly $2.27 million, with gross sales occurring roughly each 4-7 days. On common, the muse has bought ETH each 11 days in 2024, accumulating $9.67 million price of gross sales to this point. This features a notable August switch of 35,000 ETH to Kraken, valued at round $95 million on the time.
Ethereum itself has seen vital market motion over the previous yr. The cryptocurrency skilled a 66% worth enhance, reaching a peak of $4,066 in March 2024. However, ETH’s worth has since dropped and is presently buying and selling at $2,645.
Historically, since January 2021, the Ethereum Foundation has bought roughly 239,000 ETH, amounting to $654 million.
These ongoing gross sales are intently monitored by market individuals because of their potential influence on Ethereum’s worth. The basis’s exercise, together with broader market circumstances, has contributed to cost fluctuations within the cryptocurrency, preserving traders watchful of future transactions.
