Ethereum Foundation Offloads Additional 10,000 ETH to BitMine
- The Ethereum Foundation sold another 10,000 ETH at an average price of $2,292, totaling approximately $22.9 million.
- This sale follows a similar transaction of 10,000 ETH completed just one week prior at $2,387 per coin.
- Combined sales to BitMine in the past week amount to around $47 million worth of ETH.
- The Foundation recently unstaked 17,035 ETH, valued at about $40 million.
- ETH is currently trading at approximately $2,303, down over 53% from its all-time high of $4,953 in August last year.
- BitMine now holds nearly 5 million ETH, with a significant portion staked (83% of its holdings).
The Ethereum Foundation’s recent sales are intended to support its core operations and ecosystem development amid community scrutiny regarding the necessity and volume of these transactions.
In total, the Ethereum Foundation has sold approximately $47 million worth of ETH in just two weeks through these OTC deals. (Source)
