On September 5th, the Ethereum Foundation once again sold 100 ETH for about $240,000. Previously, when the Federal Reserve hinted at a possible rate cut on August 23, causing a market rally, the foundation promptly transferred 35,000 ETH to the Kraken exchange. The previous large transfer was on May 6, 2022, when 15,000 ETH was transferred, and within six days, the price of ETH plummeted from $2006 to $1740. (Image source: @lookonchain)

In 2024, the Ethereum Foundation sold ETH at least 6 times. Observing these sales records, it was found that after the foundation sold, the price of ETH usually dropped or reached a temporary high. However, not every sale was made at the peak. In December 2020, the foundation sold 100,000 ETH at a price of $657 per unit, and in March 2021, 28,000 ETH was sold at a price of $1790 per unit, missing out on subsequent gains.

A few days ago, the Ethereum Foundation research team held the 12th AMA and addressed the concerns about the price. Justin stated that ETH is money and emphasized that if ETH does not become a "programmable internet currency," Ethereum cannot serve as the settlement layer for the value internet. The foundation currently holds approximately $6.5 billion worth of ETH, and the reserve can sustain for about 10 years. There are also plans to expand L1 execution layer and L2 development, which are not contradictory, but no detailed information was provided on other more specific application landing issues. We will continue to follow the future development of Ethereum.

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