I was scrolling when I saw that the Ethereum Foundation had sold another 1,000 ETH, and I stopped mid-sip of my coffee to read it twice.
The surprising thing isn’t that it sold—it’s that it’s still selling. From October 26 to today, a total of 7,785 ETH has been sold on-chain, worth $16.35 million in all, at an average price of $2,100—basically, it’s been gradually offloading its holdings near the highs.
And there are still 10,000 ETH sitting in its wallet, worth about $19.03 million at current prices. In other words, this “potential selling pressure” that everyone’s been watching hasn’t run its course yet.
But I’m not panicking. The Foundation needs to pay salaries and fund the ecosystem, so selling tokens for cash is standard practice—it’s just that nobody used to track every single transaction. Now that everything on-chain is so transparent, every transaction can easily be interpreted as a sentiment signal.
What really matters isn’t how much it sells, but where the proceeds go. Reinvesting them in the ecosystem is a virtuous cycle; pocketing the money would be the real bearish signal.
Do you think this means the uncertainty is finally behind us, or is it the calm before the storm?
#Web3 #Ethereum #ETH #Cryptocurrency
The surprising thing isn’t that it sold—it’s that it’s still selling. From October 26 to today, a total of 7,785 ETH has been sold on-chain, worth $16.35 million in all, at an average price of $2,100—basically, it’s been gradually offloading its holdings near the highs.
And there are still 10,000 ETH sitting in its wallet, worth about $19.03 million at current prices. In other words, this “potential selling pressure” that everyone’s been watching hasn’t run its course yet.
But I’m not panicking. The Foundation needs to pay salaries and fund the ecosystem, so selling tokens for cash is standard practice—it’s just that nobody used to track every single transaction. Now that everything on-chain is so transparent, every transaction can easily be interpreted as a sentiment signal.
What really matters isn’t how much it sells, but where the proceeds go. Reinvesting them in the ecosystem is a virtuous cycle; pocketing the money would be the real bearish signal.
Do you think this means the uncertainty is finally behind us, or is it the calm before the storm?
#Web3 #Ethereum #ETH #Cryptocurrency