Ethereum Foundation go dey sell 10,000 ETH for phased sales
Ethereum Foundation don talk say dem go dey sell 10,000 ETH for the next few weeks through centralized exchanges. Dem go run the sale for small-small order so market no go shake too much. The money wey dem go get, wey be around $43 million for the current price, na to support R&D, grants, and donations for the Ethereum ecosystem. This move na part of the Foundation new financial plan wey talk say dem go dey sell ETH sometimes based on how their fiat asset ratio be. Since June, EF don sell about $37.7 million ETH, including $25 million to SharpLink Gaming plus two recent trades wey total 2,795 ETH. At the time of this report, ETH dey trade near $4,315 (down 12.5% from im all-time high) but e still up 21.3% over 30 days. Meanwhile, Yunfeng Financial Group don buy 10,000 ETH for open market, showing say institutions dey get more interest. The phased sale na to balance funding needs with market stability.
Neutral
Di phased sale of 10,000 ETH na plan wey dem make to fund, e dey spread di market impact. Even though e get extra sell pressure, di small-lot way dem dey do am dey reduce wahala for market. As before dem sell EF and de usual financial methods, dis move no go change market feeling anyhow. Plus, Yunfeng come dey buy too, e balance the sell. Generally, market fit take dis news calm calm for short and long time.