The Ethereum Foundation has once again dumped more Ether tokens, this time offloading 300 ETH worth more than $760,000.
The Ethereum Foundation has once again sold more Ether tokens. This time around, on-chain data indicates that the foundation sold 300 ETH on Friday, which is valued at over $760,000.
According to the data, the foundation sold the ETH for an average of $2,543, which is about 5% up on intraday lows of $2,440.
In recent days, the organization had put some breaks to its selling spree. Before the brief lull, the Ethereum Foundation had become one of the top ETH holders to dump as prices stalled. But on Sept. 20, the dump resumed.
EF has sold Ether every 4-7 daysOn Sept. 6, the Ethereum Foundation sold 100 ETH for $226,868. It’s a sale that brought the foundation’s increased selling across three weeks to 650 ETH, with these valued at about $1.5 million.
According to on-chain insights platform Spot On Chain, the non-profit organization has sold 950 ETH since the start of September. These sales amount to over $2.2 million, with the average sale price being $2,392.
The Ethereum Foundation sold the native Ethereum token every 4-7 days, on-chain data shows.
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.
— Spot On Chain (@spotonchain) September 20, 2024
In May 2024, the Ethereum Foundation sold 1,000 ETH for over $3 million, with year-to-date totals at the time reaching 1,766 ETH sold for over $4.8 million.
The latest dump, another big one, comes after Ethereum price surged from under $2,200 levels reached earlier this month.
At the time of writing, ETH traded around $2,552, showing an increase of about 5% in the past 24 hours and +8.5% in the past week.
These gains follow a 0.5% interest rate cut by the Federal Reserve on Wednesday, after which several Bitcoin wallets from the Satoshi era, which had been largely inactive for 15 years, woke up to move 250 BTC.
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