The Ethereum Foundation has completed its first Ethereum (ETH) sale of the year amidst a challenging market environment.
On Jan. 8, the non-profit organization exchanged 100 ETH for 329,463 DAI. According to on-chain data from Arkham Intelligence, the foundation still holds over $900 million worth of ETH despite these current sales.
Meanwhile, data from SpotOnChain reveals an interesting pattern in the foundation’s ETH sales. In 2024, the organization offloaded 4,466 ETH for $12.61 million, achieving an average price of $2,823 per unit. Notably, these sales often occurred ahead of significant market downturns.
Ethereum Foundation ETH Sales (Source: SpotOnChain)This latest sale also coincides with a steep decline in Ethereum’s value. Over the past 24 hours, the digital asset’s price tumbled by over 12%, dropping from $3,640 to as low as $3,308 before recovering slightly to $3,338 as of press time, according to CryptoSlate’s data.
Meanwhile, this price movement has had significant consequences for traders. According to Coinglass, speculative bets on Ethereum’s price resulted in nearly $100 million in liquidations within the last day.
Ethereum Price Liquidation (Source: Coinglass)The post Ethereum Foundation offloads 100 ETH amid latest downturn appeared first on CryptoSlate.
