Ethereum Foundation Sold 10,000 ETH: Details and Analysis
The Ethereum Foundation continued implementing its treasury strategy by selling 10,000 ETH to BitMine Immersion Technologies. It obtained approximately 22.9 million dollars from this over-the-counter transaction with an average unit price of 2,292.15 dollars. The Foundation stated that the sale, announced on the X platform on Friday, will finance its operational activities. Details of the Ethereum Foundations ETH Sales Strategy BitMine, as a company led by Tom Lee, has been the foundations sales partner multiple times this year. In March, the foundation transferred 5,000 ETH to the same buyer at an average price of 2,042 dollars, generating 10.2 million dollars in revenue. The funds obtained are directed to core activities such as protocol development, ecosystem expansion, and community grants. This move is a new link in the foundations policy of regularly converting ETH assets into fiat currency. Impact of Over-the-Counter Transactions on the Market The Foundation conducts these sales through over-the-counter channels to minimize market fluctuations, thereby preventing sudden pressure in spot markets. Institutional players like BitMine and other repeat buyers are playing an increasingly prominent role in the foundation‘s treasury flow. The on-chain record of the latest sale will come from the foundation’s multi-signature wallet and comply with the transparency policy. These transactions