On January 8th, 2025, the Ethereum Foundation officially conducted its inaugural sale, as announced by the account @spotonchain on a tweet to the crypto community.
Ethereum Foundation dumps 100 ETH amid price plunge
The Ethereum Foundation recently exchanged its standard batch of 100 Ether (ETH) for approximately 329,463 DAI stablecoins. According to the same source, throughout the year 2024, they sold a total of 4,666 ETH at an average price of around $2,823 each, accumulating roughly $12.61 million in earnings. The tweet suggests that the Ethereum Foundation often makes these sales prior to significant price drops.
100 Ether (ETH) was sold in December for approximately 402,473 MakerDAO’s DAI (DAI). This marked the second consecutive sale, with the foundation offloading a total of 200 ETH, equivalent to around 776,800 DAI.
In 2025, the Ethereum Foundation conducted their first sale of ETH, exchanging 100 ETH for approximately 329,463 DAI. Previously, in 2024, they sold a total of 4,466 ETH, amassing $12.61M at an average price of around $2,823. This was often before significant price drops. Keep up with @spotonchain and stay alert for updates on the Ethereum Foundation’s next moves using the #EthereumFoundation hashtag.
— Spot On Chain (@spotonchain) January 8, 2025
Today’s sale occurred during a significant decrease in Ethereum’s price. In the past 24 hours, the second-largest cryptocurrency, Ethereum (ETH), experienced a drop of about 9%. This sudden decline caused ETH to plummet from $3,640 to a local minimum at $3,308. However, ETH has since partially recovered, with an increase of approximately 1.32%, and is now being traded for around $3,351 per coin.
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2025-01-08 18:42