Ethereum Foundation Sells Over $17 Million in ETH: A Deep Dive into 2024 Transactions

According to recent findings from 0xScope, the Ethereum Foundation has been strategically liquidating ETH for DAI since January 2, 2023. This series of transactions includes 37 recorded sales, each varying between 50 to 200 ETH. The earliest transaction documented occurred on the initial day of this year, culminating with the latest on October 23. In total, approximately 4,066 ETH were sold via CowSwap, resulting in a calculated revenue of about $11.24 million and an average transaction price of $2,764.

Additionally, it’s noteworthy that a connected wallet received a substantial transfer of 51,251 ETH from the Ethereum Foundation back in November 2015. In the last two months alone, this address has transferred 2,580 ETH, equivalent to roughly $6.24 million, to exchanges such as Bitstamp and Kraken at an average transfer rate of $2,417. These transactions indicate that the Ethereum Foundation may have total sales amounting to 6,646 ETH this year, exceeding a value of $17 million.