- Ethereum Foundation sold another 10,000 ETH to Bitmine. Bitmine is now just 0,8% short of its target of 5% of the total Ethereum supply on its balance sheet.
- Sale of assets Ethereum Foundation has sparked a new wave of criticism.
Ethereum Foundation (EF) continued its selling streak by transferring another 10,000 ETH worth nearly $23 million to Tom Lee’s Bitmine Immersion Technologies on the final trading day of the week.
Today Ethereum Foundation agreed to sell 10,000 ETH at an average price of $2292,15 on the over-the-counter market, stated in the fund.
Just last week, Bitmine also has acquired The fund held 10,000 ETH, worth $24 million at the time. In both cases, the fund stated it would use the proceeds to implement its long-term strategy.
This sale will allow us to finance our core business activities. Ethereum Foundation, including protocol research and development, ecosystem development, community grant funding, and more, Wrote в Ethereum Foundation.
The repeated sales drew criticism from the community, so last year the management Ethereum The Foundation promised to limit this practice. Since then, the organization has partially alleviated the pressure on the ETH price by staking some of its assets.
Asset buyer Ethereum Foundation company Bitmine has established itself as one of the most aggressive institutional investors in AltcoyinThe latest purchase increased its holdings to 5,088,386 ETH, representing 4,2% of the total ETH in circulation. This puts the company close to achieving its 5% target.
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