Fri Sep 20 13:09:02 UTC 2024: ## Ethereum Foundation Continues Selling Spree, Dumping Another 300 ETH

The Ethereum Foundation has continued its recent selling trend, offloading another 300 ETH for over $760,000. This comes just two weeks after the foundation paused its selling spree, having previously been a major contributor to the downward pressure on ETH prices.

Since the beginning of September, the foundation has sold a total of 950 ETH, equating to over $2.2 million. This recent sale brings the foundation’s total ETH sold this year to over 1,950, worth around $5 million.

Despite the foundation’s continued selling, ETH prices have been steadily rising. In the past 24 hours, ETH has gained 5% and is currently trading around $2,552. This surge in price is attributed to the recent Fed interest rate cut, which has also boosted Bitcoin’s price to above $63,000.

This news comes as more attention is drawn to the Ethereum Foundation’s selling activity. While the foundation has not publicly commented on its reasons for selling, some analysts speculate that the funds might be used for development or other projects within the Ethereum ecosystem.

However, the continued selling by the foundation, despite rising ETH prices, has raised concerns among some investors. The foundation’s actions could potentially dampen market sentiment and impact the overall price of ETH.

It remains to be seen whether the Ethereum Foundation will continue its selling spree or if it will pause its activity again. The foundation’s future actions will be closely watched by the market.

Read More