The Ethereum Foundation transferred 10,000 ETH — worth approximately $23.87 million — to Bitmine via an over-the-counter transaction, according to on-chain data.
The sale is part of a broader pattern of distributions. Over the past three months, the Ethereum Foundation and Vitalik Buterin's wallet have collectively offloaded 39,326 ETH, totalling roughly $84.56 million.
OTC deals of this scale typically avoid immediate open-market impact, but sustained selling pressure from a project's founding entity tends to draw close scrutiny from the broader community. Observers will be watching whether the pace of disposals continues.
Frequently asked questions
-
What has been the total amount of ETH sold by the Ethereum Foundation recently?
In the past three months, the Ethereum Foundation and Vitalik Buterin's wallet have sold a total of 39,326 ETH, valued at approximately $84.56 million.
-
How might the Ethereum community react to the Foundation's selling activity?
Sustained selling pressure from the Ethereum Foundation may draw scrutiny from the community, prompting observers to monitor the pace of future disposals.
CoinDesk
Crypto News
TheBlock