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Ethereum Foundation Sells 1,000 ETH for $4.5M in Latest Transaction

The Ethereum Foundation's continued ETH sales, totaling $72.94M over three months, are directed towards funding its research, grants, and donations.

ETH
DAI

Summary

The Ethereum Foundation’s DeFi multisig wallet sold 1,000 ETH for 4.508 million DAI on October 4, at an average price of $4,508 per ETH. This sale is part of a broader strategy where 21,000 ETH worth $72.94 million has been sold over the past three months. These funds will support the Foundation's research, grants, and donations, with prior sales to SharpLink and Kraken in July and September 2024, respectively.

Terms & Concepts
  • ETH (Ether): The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and decentralized applications.
  • DAI: A U.S. dollar-pegged stablecoin issued by MakerDAO, designed to maintain a stable value through collateral-backed mechanisms.
  • DeFi Multisig Wallet: A decentralized finance wallet requiring multiple signatures to authorize transactions, enhancing security for institutional or collaborative fund management.