The Ethereum Foundation (EF) has sold 3,766 ETH, equivalent to $10.46 million, this year, according to experts at Lookonchain.
The #Ethereum Foundation sold 100 $ETH($263K) again 30 mins ago!#Ethereum Foundation has sold a total of 3,766 $ETH($10.46M) this year.https://t.co/N8Hn22pTCZ pic.twitter.com/HEVvYKn4HA
— Lookonchain (@lookonchain) September 30, 2024
The latest sale of 100 ETH for 262,470 DAI occurred yesterday.
The Ethereum Foundation is a non-profit organization dedicated to the development, enhancement, and promotion of Ethereum and related technologies. It was established in 2014 with the aim of fostering a decentralized open-source ecosystem.
In September, Ethereum researcher Justin Drake revealed that the EF has funds sufficient for approximately 10 years of operation, based on the current ETH rate. The foundation plans to release a financial report soon.
The organization’s main wallet holds 271,274 ETH, valued at $715 million at the current rate.
“The current approximate budget strategy is to spend 15% of the remaining funds each year. This implies a path where the EF exists indefinitely but gradually has less influence on the ecosystem,” Vitalik Buterin previously wrote.
In August, the Ethereum Foundation transferred 35,000 ETH ($94 million at the time of the transaction) to the cryptocurrency exchange Kraken. EF Executive Director Aya Miyaguchi described the transfer as “part of financial management activities.” She emphasized that the transaction does not imply an immediate sale.
Earlier, Buterin proposed developing a set of metrics to measure how well projects “align” with Ethereum’s values.