The Ethereum Foundation sold 100 Ethereum worth $271,000 on October 31, adding to its ETH sales for the year. According to data shared by the on-chain analytics platform, the foundation has sold a total of 4,066 Ethereum this year, worth about $11.24 million, with an average sale price of $2,764. It is observed that the foundation usually sells at price peaks, which then causes a pullback in prices.
Ethereum founder Vitalik Buterin emphasized that these sales are a necessity and explained that the foundation contributes to the Ethereum ecosystem by using the proceeds in nine different areas. This statement shows that the foundation's ETH sales are a beneficial investment for the ecosystem rather than just generating revenue.
