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The Ethereum Foundation transferred 35,000 ETH, and the selling behavior has attracted market attention and analysis.
Discussing the Ethereum Foundation's ETH selling behavior and its impact
On the early morning of August 24, the Ethereum Foundation transferred 35,000 ETH to a certain trading platform, attracting market attention. This move coincided with an upward trend in the cryptocurrency market following the Federal Reserve's release of interest rate cut expectations.
Looking back at history, the Ethereum Foundation has sold large amounts of ETH multiple times at market peaks. For example, on May 17, 2021, the foundation sold 35,053 ETH at an average price of $3,533, after which the market experienced the "5.19 crash," with the price dropping to around $1,800. On November 11 of the same year, the foundation once again sold 20,000 ETH at an average price of $4,677, after which the market began to decline. These actions led to the foundation being humorously dubbed the "top escape master."
However, in the long run, the foundation's operations are not always accurate. Data shows that the foundation also sold ETH at relatively low prices in December 2020 and March 2021, missing the subsequent significant rise. In fact, the foundation's operations are more akin to regular selling rather than precise market judgment.
Regarding the reason for this transfer of ETH, the executive director of the foundation stated that it is part of the fund management activities. The foundation has an annual budget of approximately 100 million USD, mainly used for grants and salary expenditures. Some recipients only accept fiat currency, so it is necessary to convert ETH into cash. It is worth noting that this transfer does not equate to an immediate sell, but may be part of a planned gradual selling.
According to analysis, after this transfer, the foundation still holds approximately 273,000 ETH, accounting for 0.25% of the total supply. The foundation's funds are primarily used for global conferences, online courses, and innovative projects, among others. The 2021 report indicates that the foundation's total expenditure on internal spending, external grants, and rewards amounted to 48 million dollars.
From the market impact perspective, the foundation's sale of 35,000 ETH is not significant compared to the recent net outflow of a certain ETF. The proportion of ETH held by the foundation is relatively small, and its selling behavior has limited direct impact on market liquidity, but it may have some effect on investor confidence.
To improve transparency and enhance community understanding, the foundation may consider publishing detailed financial reports more frequently, including expenditure details, ETH selling plans, and information on how funds are used. This approach helps stabilize community sentiment and strengthen the confidence of ETH holders.
As an important supporter of the Ethereum ecosystem, I hope that the foundation can attract more developers and users to this leading smart contract blockchain platform through continuous R&D, community operations, and market education, promoting the healthy development of the entire ecosystem.