The post Ethereum Foundation’s ETH Sales Continue with $4K in Sight appeared on BitcoinEthereumNews.com.

The Ethereum Foundation has sold 100 ETH.  ETH has traded at $3,992 over the past 24 hours. The Ethereum Foundation sold another 100 ETH for 402,473 DAI on December 17, 2024. This transaction is part of their ongoing sell strategy for the year. Notably, in the last seven days, the foundation has sold a total of 200 ETH for around 776,800 DAI. This infers a diplomatic sell pattern to maintain liquidity and fund public projects. The Ethereum Foundation has sold a collective 4,466 ETH for approximately 12.62 million at an average price of $2,822 per ETH since the beginning of 2024. This transaction series of the foundation exhibits the management of its ETH reserves. Moreover, in November 2024, the Ethereum Foundation sold 100 ETH for 334,315.7 DAI. It marks the first sale since the release of the 2024 financial report on November 8. The report reveals that as of October 31, 2024, the foundation’s total asset reserves are likely recorded at around $970.2 million, with $788.7 million in crypto assets, 99.45% of which is ETH.  The Ethereum Foundation states that they will sell ETH regularly to fund major projects and maintain operational reserves. This suggests the effort taken to liquidate parts of their ETH holdings. It will support the ecosystem development, ensure financial stability, and fund public goods. Ethereum Price Amid The Ethereum Foundation Sale Ethereum, the largest altcoin, has recorded a moderate gain of over 2%. At the time of writing, ETH trades at $3,992, with its trading volume resting at $42.08 billion, after surging over 31.77%.  The current level shows the asset’s reachability toward the $4K mark. Only if the bulls maintain the momentum, ETH could hit and surpass the expected range. In the case of the emergence of bears, the price might plunge to its previous lows. …

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Filed under: News - @ December 17, 2024 5:26 pm