- The Ethereum Foundation has sold a total of 950 ETH worth more than $2.2 million over the past three weeks.
- On September 20, the non-profit sold 300 ETH for over $760,000 as Ethereum’s price climbed above $2,500.
The Ethereum Foundation has again offloaded a batch of Ether, selling 300 ETH worth more than $760,000. On-chain data shows the foundation sold the 300 ETH on Friday at an average price of $2,543 — roughly 5% above intraday lows near $2,440.
In recent days the organization paused its selling cadence briefly. Before that pause, the Ethereum Foundation was one of the largest recurring sellers of ETH as prices stalled. On September 20, the foundation resumed its sales activity.
Foundation has sold Ether every 4–7 days
On September 6 the Ethereum Foundation sold 100 ETH for $226,868. That sale brought the foundation’s total sales over a three-week period to 650 ETH, valued at about $1.5 million at the time.
According to on-chain insights provider Spot On Chain, the non-profit has sold 950 ETH since the start of September.
Those sales amount to more than $2.2 million, at an average sale price of $2,392. On-chain records indicate the Ethereum Foundation has been selling its native token roughly every 4–7 days.
The Ethereum Foundation has sold $ETH… again!
In the past 20 minutes, they sold another 300 $ETH for 763,092 $DAI.
Overall, since the beginning of September, the Ethereum Foundation has sold 950 $ETH ($2.27M) at an average price of $2,392, with sales occurring every 4-7 days.… https://t.co/tnF0vK1zgs pic.twitter.com/jloNPcoHqZ
— Spot On Chain (@spotonchain) September 20, 2024
I n May 2024 the Ethereum Foundation sold 1,000 ETH for more than $3 million, bringing its year-to-date totals at the time to 1,766 ETH sold for over $4.8 million. The latest sizable sale follows a recovery in ETH’s price from levels below $2,200 earlier in the month.
At the time of writing, ETH traded around $2,552 — roughly 5% higher over the past 24 hours and up about 8.5% over the past week. Those gains coincided with Bitcoin rising above $63,000 after the Federal Reserve signaled a 0.5% rate cut this week.
Previously, CoinJournal reported that five long-dormant Bitcoin wallets from the Satoshi era woke up and moved 250 BTC after 15 years of inactivity.