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The ethereum Foundation makes another DAI purchase by dumping 100 eth on November 12. This is the first time the protocol has sold eth since publishing its annual report.
According to data from the analysis platform. ai/en/entity/125?route=view_transaction” target=”_blank” rel=”nofollow”>SpotOnChainOn November 12, the ethereum Foundation offloaded 100 eth (eth) of its holdings and exchanged them for the DAI stablecoin. Since the purchase, the protocol obtained 334,315.7 DAI tokens.
This is the first time the blockchain has made an eth sale since November 8, when it published its annual report for 2024. This transaction followed a sale of 100 eth for 270,800 DAI on October 30, according to data from SpotOnChain.
Throughout October, the ethereum Foundation made four successive downloads of 100 eth, and an additional wallet linked to the ethereum Foundation generated 1,250 eth ($3.03 million) to Bitstamp on October 8.
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ethereum.foundation/report-2024.pdf” target=”_blank” rel=”nofollow”>ethereum Foundation Report 2024 revealed that it has asset reserves worth $970.2 million as of October 31, of which $788.7 million is stored in cryptocurrencies. The protocol claims that the majority of its cryptocurrency holdings are held in eth, up to 99.45%, representing 0.26% of the total eth supply.
According to data from SpotOnChain, the ethereum Foundation currently holds 272,330 eth and 168,458 DAI tokens. Previously, on September 9, the ethereum Foundation had accumulated a total of 8.66 million DAI after selling 450 eth for 1.029 million DAI.
Previously, co-founder Vitalik Buterin explained that the ethereum Foundation periodically sells eth to fund public projects and maintain reserves. Since the beginning of 2024, the foundation has sold a total of 4,266 eth worth $11.83 million based on current prices.
On October 7, Buterin sold 10 billion (MOODENG) tokens, donating the proceeds to his Kanro biotech fund, while advocating for the use of meme coins to positively contribute to charitable causes.
Many have accused the ethereum co-founder of selling eth for profit, but he has consistently denied these claims, stating that the funds were intended to support ecosystem development and philanthropic efforts.
