- Following Vitalik Buterin, who is selling his ETH to finance developments on the network, Ethereum Foundation spent part of its treasury on staking.
- Recent translation into smart contract в Ethereum, placing ETH on staking in Beacon Chain, was a record-breaking deal at $46 million.
- The funds received will also be spent on new developments and research.
Today Ethereum Foundation sent to staking ETH worth $46 million, which is the largest volume of tokens placed by the fund in a single day.
On According to Arkham Intelligence, on Monday, March 30, 22,517 ETH were sent from the foundation’s treasury wallet to an address designated as the ETH2 Beacon deposit contract. The recipient wallet is smart contract on Ethereum, which stakes ETH on the Beacon Chain.
Arkham Data
This is more than they have ever staked, written on the Arkham social media account, with analysts adding that the fund still holds 147,471 ETH, worth $302 million.
The non-profit organization began staking part of its treasury in February, when 2016 ETH were staked. According to the foundation’s policy, this was done to generate additional profits.
We are pleased to take this important step to help ensure the security of the network. Ethereum and simultaneously fund the foundation’s core operations and activities, including protocol research and development, ecosystem development, community grant funding, and more. Wrote employees of the fund.
It is noteworthy that in February the co-founder Ethereum Vitalik Buterin sold 17,196 ETH. He said he would use these funds in the coming years to develop «open-source, secure, and auditable full-stack» software and hardware across various sectors, including finance and government.
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