The Ethereum Foundation Sells 1,700 ETH for $2.73 Million on Uniswap
The Ethereum Foundation has made its largest single transaction of the year by selling 1,700 Ether (ETH) for $2.73 million worth of USDC on the decentralized exchange Uniswap. This brings the total amount of ETH sold by the foundation this year to 2,262 tokens, with most sales occurring prior to market dips. Despite these sales, the foundation still holds over $500 million worth of ETH in its wallet, as well as other altcoins.
Ethereum Foundation’s Recent Transactions and Holdings
According to Spot On Chain, an on-chain monitoring service, the Ethereum Foundation’s recent transaction involved swapping 1,700 ETH for $2.738 million USDC. The foundation has sold a total of 2,262 ETH this year and currently holds approximately $500 million worth of ETH. In addition to ETH, the foundation also possesses over $340,000 worth of wrapped Ether (WETH), $38,000 of DAI, $9,700 worth of BNB, and other altcoins.
Ethereum Foundation’s Financial Transparency
The Ethereum Foundation has a history of being transparent about its finances and regularly publishes reports on them. The recent sale of ETH is expected to be included in the organization’s next report. Additionally, Ethereum co-creator Vitalik Buterin recently transferred $3.79 million worth of ETH to centralized trading platforms.
Ethereum Market Dip and ETF Launches
The Ethereum Foundation’s sale coincided with a cryptocurrency market dip caused in part by the ongoing conflict in Gaza. It also comes one week after the launch of Ethereum futures exchange-traded funds (ETFs) in the United States. However, these ETH ETFs did not generate the same level of excitement and trading volume as the first Bitcoin futures ETF. On their first day, the top ETH futures ETFs collectively saw less than $1.5 million in trading volume, while the Bitcoin futures ETF attracted over $1 billion in trading volume on its debut day.
Ethereum Foundation’s Future Financial Moves
The Ethereum Foundation’s recent transactions and holdings indicate its active involvement in various projects and initiatives. The foundation continues to support its workers, build new projects, and assist new developers and projects in the crypto space. Despite market fluctuations, it remains committed to its mission and encourages investors not to panic.
Hot Take: Ethereum Foundation Sells 1,700 ETH on Uniswap
The Ethereum Foundation has made its largest transaction of the year by selling 1,700 ETH for $2.73 million on the decentralized exchange Uniswap. This move comes amidst market dips and ongoing conflicts, demonstrating the foundation’s proactive financial management and commitment to supporting workers, new projects, and developers in the crypto industry. With over $500 million worth of ETH still in its wallet, the Ethereum Foundation remains a significant player in the market.
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