- The Ethereum Foundation has sold a total of 950 ETH over the past three weeks, worth over $2.2 million.
- On September 20, the non-profit sold 300 ETH for over $760,000 as the price of Ethereum rose above $2,500.
The Ethereum Foundation has once again released more Ether tokens, this time 300 ETH worth $760,000.
According to on-chain data, the foundation sold 300 ETH at an average price of $2,543, up 5% from the intraday low of $2,440.
In recent days, the organization has stopped its selling frenzy. Before the brief downturn, the Ethereum Foundation was one of the largest ETH holders selling as the price stagnated. However, the selling resumed on September 20.
The Ethereum Foundation sold Ether every 4 to 7 days.
On September 6, the Ethereum Foundation sold 100 ETH for $226,868. This sale brought the Foundation’s sales to 650 ETH over three weeks, which was worth approximately $1.5 million.
According to Spot On Chain, an on-chain insights platform, the non-profit has sold 950 ETH since early September, worth over $2.2 million, with an average selling price of $2,392.
According to on-chain data, the Ethereum Foundation has sold native Ethereum tokens every four to seven years.
The Ethereum Foundation is selling $ETH again!
In the last 20 minutes they sold another 300. $Ethereum About 763,092 $Die.
Overall, since early September, the Ethereum Foundation has sold 950. $Ethereum ($2.27M) Average price $2,392, sales 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 over $3 million, bringing the total number of ETH sold from the beginning of the year to date to 1,766, worth over $4.8 million.
The recent sell-off comes after Ethereum’s price surged from lows below $2,200 earlier this month.
At the time of writing, ETH was trading at around $2,552, up around 5% in the last 24 hours and up +8.5% over the past week.
The rally comes as the Bitcoin price surged above $63,000 this week after the Federal Reserve cut interest rates by 0.5%.
CoinJournal previously reported that five Satoshi-era Bitcoin wallets that had been dormant for 15 years had awakened and transferred 250 BTC.