Ethereum Foundation's Sale of 100 ETH: How It Affected the Cryptocurrency Rate
Date: 2025-01-28 Author: Henry Casey Categories: CRYPTO PAYMENTS
On January 27, 2025, the Ethereum Foundation sold 100 ETH for $309,893, marking the foundation's third sale this year. In total, the organization sold 300 ETH for $981,200 in January. The foundation currently holds 269,175 ETH, equivalent to $817 million.
These actions have put pressure on the Ethereum rate, which has fallen by more than 7% in the last 24 hours. On the evening of January 27, ETH was trading slightly above the $3,000 mark, part of a broader decline in the cryptocurrency market.
The Ethereum Foundation's token sale comes amid growing competition from other blockchains like Solana and internal problems within the organization itself. In this regard, Justin Sun, the founder of the Tron blockchain, suggested that Ethereum focus on improving the user experience. He expressed the opinion that this could help attract more developers and organizations, and also suggested pausing the ETH sale to stabilize the ecosystem.
Criticism of the Ethereum Foundation was not limited to Sun's proposal. Comments were made regarding the high fees on the Tron network, which, according to some, could exacerbate the problems of competing projects.
In response to criticism and the situation with the fall in the price, the Ethereum Foundation announced its plans to allocate 50,000 ETH (about $ 165 million) to support its ecosystem. Vitalik Buterin, the co-founder of Ethereum, also noted that he will work to improve transparency and support for developers. However, he categorically rejected proposals to oust Executive Director Ai Miyaguchi and condemned criticism of the fund, stressing that reforms within the organization are ongoing.
