Tuesday, January, 21, 2025

Ethereum Foundation Sells $12.7M in ETH as Ether Hits Yearly Price Peak!

Ethereum Foundation sells 2,795 ETH for $12.7M, coinciding with ether’s yearly price surge and growing institutional interest.
Ethereum
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Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.
  • Ethereum Foundation sells $12.7M in ETH amid price surge.
  • Growing institutional interest fuels Ethereum’s price momentum this year.
  • The coin hits yearly peak while the Foundation makes strategic sales.

The Ethereum Foundation has sold 2,795 ETH, valued at around $12.7 million, following ether’s surge to its highest price this year. On-chain data provided by Lookonchain shows that the foundation’s wallet, labeled as ” 0xF39…E4B,” transferred 1,695 ETH in exchange for 7.72 million DAI, at an approximate value of $4,556 per ether. An hour later, the wallet sold another 1,100 ETH at $4,602, taking advantage of the bullish market.

In 2017, the Ethereum Foundation sent 20,756 ETH from this specific wallet to its EF 1 address. Following the latest purchases, it currently has 99.9 ETH, which corresponds to about $457,681 and 11.6 million DAI. These sales coincide with Ethereum’s good performance, as it recently surpassed the $4,500 mark, the first time it has been that high since 2023.

Also Read: Metaplanet Buys $61.4M in Bitcoin, Boosting Holdings to Over 18,000 BTC

Growing Institutional Interest Fuels Ether’s Bullish Momentum

Ether has performed far better than Bitcoin in regard to year-to-date price increase. Increased institutional interest has largely influenced the cryptocurrency’s robust price performance. Firms such as SharpLink Gaming and Bitmine have increased their Ethereum treasuries by significant sums and now have almost 9 billion dollars in Ethereum. Besides, Ethereum exchange-traded funds (ETFs) have also registered more than a billion dollars in net inflows, which is a significant milestone given that they were introduced last year.

Ethereum Foundation’s Bold Move Amid Growing Institutional Interest

This recent sale of the Ethereum foundation is a testimony to the fact that the wider market is becoming increasingly bolstered about Ethereum’s long-term direction as institutional investor groups have more confidence than ever before. Big players are betting on the network’s future, with corporate investments in ETH increasing. Increasing institutional inflows will likely further influence Ethereum’s course.

Since the price of Ethereum is still on the increase and adoption continues to grow, the foundation’s strategy appears to be in line with the new market dynamics. As the market matures, the Ethereum Foundation’s activities are expected to continue impacting the digital assets ecosystem, which portends more institutional incorporation.

Also Read: MARA Holdings to Spend $168M on French AI Data Firm in Bold Expansion Move

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