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Ethereum Foundation Sells 5,000 ETH to Fund Research and Grants
The Ethereum Foundation announced plans to liquidate 5,000 Ethereum (ETH), which will be converted into stablecoins. The foundation emphasized that the proceeds from this sale will be specifically allocated to finance research and development (R&D) operations, grant programs, and donations.
Based on on-chain data tracking from Arkham Intelligence on Thursday (09/04), the liquidation process has reportedly begun. In the initial stage, the Ethereum Foundation has sold 416.67 ETH and exchanged it for 933,340 DAI stablecoins at an average price of $2,240 per coin.
The entire sale of 5,000 ETH was executed gradually using the Time-Weighted Average Price (TWAP) feature through the CoW Swap exchange platform. This transaction splitting strategy was intentionally employed by the foundation to minimize volatility impact and prevent drastic selling pressure in the market.
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$ETH