Ethereum Foundation sell 10,000 ETH to BitMine for $22.9M; $47M in one week
Ethereum Foundation sell 10,000 ETH to BitMine Immersion Technologies for about $22.9M (≈$2,292/ETH). Dis follow another Foundation deal from di previous week: 10,000 ETH sell for ≈$2,387 (≈$23.87M), plus earlier 5,000 ETH sale for March. Put together, BitMine don add about $47M worth of ETH in about one week.
Proceeds dem earmarked for core operations, protocol R&D, ecosystem investments, and community grants. Di back-to-back Ethereum Foundation ETH sales don spark debate about why big ETH value dey moved quick and whether developers suppose to get paid more direct in ETH.
Another staking signal: Foundation withdraw 17,035 ETH from staking last week (≈$40M), suggest say dem don pause target to keep 70,000 ETH staked. Traders go dey watch whether these Ethereum Foundation ETH flow changes go add near-term supply or change liquidity sentiment.
For BitMine, ETH holdings don climb to nearly 5M ETH after dem add 101,901 ETH in im biggest weekly purchase of di year. About 83% (~4.19M ETH) na staked, fit reduce circulating sell pressure. With ETH trading around ~$2,303 (down >53% from ATH), main trader focus na follow-on treasury/staking moves and whether downside support go hold amid ongoing Foundation and institutional activity.
Neutral
Short-term, Ethereum Foundation dem sell ETH (10,000 ETH, den anoda 10,000, plus earlier 5,000 for March) fit add supply overhang and pressure sentiment, and di staking withdrawal of 17,035 ETH fit temporarily increase di ETH wey dey available. But market still get counter factors: BitMine dey accumulate big time (add about ~101,901 ETH in im biggest weekly buy dis year) and about ~83% of im ETH don dey staked, so immediate spot sell pressure no too likely. Net effect: mixed signals—possible liquidity/sentiment noise from treasury and staking changes, but small cushion from institutional accumulation and staking. So expected price impact on ETH na neutral, no clearly bullish or bearish.