Ethereum Foundation Executes Its Biggest Sale of the Year: $2.73 Million in Ethereum

The Ethereum Foundation offloaded 1,700 ETH amounting to $2.73 million via Uniswap, marking its most significant single transaction in 2023. Despite such sales, the Ethereum Foundation still holds over $500 million in ETH, along with other digital assets. This sale aligns with the recent crypto market volatility and the introduction of Ethereum futures ETFs in the U.S.

The Ethereum Foundation has carried out a notable sale on Uniswap, parting with 1,700 Ether (ETH) for a sum of $2.73 million, marking its largest individual deal this year. Through this action, the Foundation has offloaded a total of 2,262 ETH this year, predominantly ahead of downturns in the cryptocurrency market.

Despite these disposals, Ethereum’s blockchain data indicates that the Ethereum Foundation still holds assets exceeding $500 million in ETH, positioning it as one of the major holders of this digital currency. Beyond Ethereum, they possess various other cryptocurrencies, including over $340,000 in wrapped Ether (WETH), $38,000 in DAI, and $9,700 in Binance Coin (BNB), to name a few. This move comes shortly after Ethereum’s co-founder, Vitalik Buterin, shifted $3.79 million in digital assets to centralized trading platforms. The Ethereum Foundation has consistently maintained financial transparency by regularly publishing reports detailing its holdings and transactions.

This recent development is slated for inclusion in the Foundation’s upcoming financial report and coincides with a period of turbulence in the crypto market, partly triggered by the Gaza conflict following a Hamas attack on Israel.