- 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 nonprofit sold 300 ETH for over $760,000 as the Ethereum price climbed above $2,500.
The Ethereum Foundation has once again offloaded more Ether, this time selling 300 ETH valued at just over $760,000. On-chain data show the foundation sold the 300 ETH on Friday at an average price of $2,543 — roughly 5% above the intraday low of $2,440.
In recent days the organization had slowed its selling activity. Before this brief pause, the Ethereum Foundation was among the largest holders reducing their ETH positions while prices were stagnant. The sell-off resumed on September 20.
EF has been selling Ether every 4–7 days
On September 6 the Ethereum Foundation sold 100 ETH for $226,868. With that sale, the foundation’s total disposals over three weeks reached 650 ETH worth about $1.5 million.
According to on-chain insights provider Spot On Chain, the nonprofit has sold 950 ETH since the start of September.
Those sales total more than $2.2 million, with an average sale price of $2,392. On-chain records indicate the Ethereum Foundation has been selling the native token at intervals of 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
In May 2024 the Ethereum Foundation sold 1,000 ETH for more than $3 million, bringing the year-to-date total to 1,766 ETH sold for over $4.8 million. The latest substantial selling followed a sharp rebound in ETH price from below $2,200 earlier in the month.
At the time of writing, ETH was trading at approximately $2,552, up about 5% over the past 24 hours and roughly 8.5% for the week.
Those gains came as Bitcoin rose above $63,000 after the Federal Reserve cut interest rates by 0.5% this week.
Earlier, CoinJournal noted that five long-dormant Bitcoin wallets from the Satoshi era — inactive for 15 years — became active and moved 250 BTC.