Ethereum Foundation recently sold $100 ETH for $420.47K as monitored by Arkham Intelligence on December 17, 2024. In 2024 alone, the foundation made sales totaling up to 4,664 ETH, which is roughly equivalent to $12.62 million.
The #Ethereum Foundation sold 100 $ETH($420.47K) again just now.#Ethereum Foundation has sold a total of 4,466 $ETH($12.62M) this year.https://t.co/aEdJQoOeuv pic.twitter.com/Cd6LPm1JBu
— Lookonchain (@lookonchain) December 17, 2024
The recent sale shows how the Ethereum Foundation has a desire established to systematically dispose of its assets. Many investors view these ongoing sales by Ethereum Foundation as efforts to hold reserves, meet needs, as well as to support their projects.
Crypto Sales by the ETH Foundation
Being responsible for Ethereum ecosystem, the Ethereum Foundation significantly participates in management and further development of the ecosystem. This has raised eyebrows among the analysts and investors who have keenly been following the company’s sale.
Latest sale by Ethereum Foundation is smaller compared to the previous sales. However, it matches fully the observed trend since January 1, 2024. Nonetheless, investors remain worried about the foundation’s Ethereum’s supply.
Ethereum Price Analysis Amid The Foundation Sales
As of this writing, the price of Ethereum is at $4,005 with a very narrow spread between $3,980 and $4,020. This suggest that coin is in a consolidation phase. Despite latest price movement, the ETH is not able to move past the resistance level that currently sits at $ 4,041.31. The coin’s support level also stands at $3,980, with a few smaller bounces experienced during the early trading session.
Technical data on TradingView illustrates a neutral momentum. For instance, the Ethereum’s RSI currently stands at 52.22. This indicates that the Ethereum coin is at a middle ground and it’s neither overbought nor oversold.
Source: TradingView
On the flip side, the coin has a bearish divergence, according to the MACD indicator. Furthermore, the MACD line is below the signal line, and the histogram forms a negative interval with the current MACD value at—0.70. This implies short-term selling pressure.
If the price of Ethereum goes above $4,020, it will face a breakout signaling a bullish run. On the other hand, if the price shifts below $3,980, it may as well test the other lower supports. Traders have to be more vigilant as they wait to get some hint on the direction the coin will turn.
Ethereum Foundation’s Financial Strategy
Ethereum Foundation’s plan to spend its holdings gradually also resembles the company’s earlier funding practices. As the holding is connected with fiat or stablecoin, the foundation ensures funding for the long-term needs and projects.
Although some of the market participants consider Ethereum Foundation sales as bearish, others consider them neutral. More so, the foundation implemented an open operating model where the community can quickly understand whether or not the foundation holds their interest. Another important aspect which is crucial for the foundation is its ability to continue developing Ethereum’s ecosystem.
As we approach the last days of 2024, analysts remain focused on various activities around Ethereum. Any increase in the Foundation’s liquidation could affect investors’ perceptions, especially if ETH runs into more general market issues.
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