The Ethereum Foundation has reportedly participated in another sell-off of Ethereum (ETH), the largest altocoin.
The Ethereum Foundation has reportedly participated in another sell-off of Ethereum (ETH), the largest altocoin.
According string dataThe Ethereum Foundation transferred 100 ETH, valued at approximately $253,000, to an unknown address and subsequently received an equivalent amount in DAI, a stablecoin pegged to the US dollar.
Ethereum Foundation Asset Holdings
The Ethereum Foundation, a key nonprofit organization behind the Ethereum blockchain, maintains a substantial portfolio of crypto assets.
Recent transactions suggest that the foundation wallet named “Grant Provider: 0x9ee” has made notable ETH-related moves.
Despite the latest liquidation, the Ethereum Foundation’s holdings remain strong, with over 312,000 ETH still in its possession. At Ethereum’s current price of $2,564.78, the foundation’s holdings amount to nearly $794 million.
The transaction history also shows a diverse portfolio that includes Wrapped Ethereum (WETH), DAI, USD Coin (USDC), and other tokens.
Impact on the market
Ethereum Foundation sales often create repercussions throughout the Ethereum community due to their potential impact on market dynamics.
As the primary entity supporting the development of the Ethereum protocol, the foundation’s financial activities are closely monitored by investors and analysts.
These transactions are often scrutinized for signals about the foundation’s assessment of the market and its strategy for funding ongoing development and grants.
This relatively minor transaction had little impact on the Ethereum price. The largest altcoin is currently trading at $2,558 after adding 0.2%.
