Guide to "buy low and sell high" with Ethereum Foundation
The community discovered a "miraculous" trader who specializes in selling at the peak, which is Ethereum Foundation.
The cryptocurrency market on December 20, 2024 is suffering from a "dump" storm. Bitcoin fell to $96,000, another $1 billion was liquidated.
Everyone is sad when the market falls, the happiest people are probably short traders and those who "took profit" at the peak price. The happiest right now is probably Ethereum Foundation...
The most recent sale by Ethereum Foundation was on December 17, selling 100 ETH at the highest price in recent months of $4,025.
And the story that followed became legendary...
The price of ETH has fallen from $4,000 to the current price of $3,280, losing all the growth it has gained over the past month.
ETH price fluctuations in the past month, screenshot from CoinGecko at 04:35 PM on December 20, 2024
Not only the most recent sell order, but also the sell orders in 2024 of the Ethereum Foundation are all top or near-top sales.
As summarized by Lookonchain in the image below:
Ethereum Foundation sold 4,466 ETH, earning $12.6 million, in 32 sales in the year. Notably, 15 of these were sold at the top, with an average price drop of 10%.
As a trader, I would only wish for the timing to be as accurate as the Ethereum Foundation!
In August, when the Ethereum Foundation transferred 35,000 ETH, worth more than $94 million, to the exchange, the community was very upset, demanding that this organization be more transparent about its operations so that investors know clearly about the purpose of the project's asset transfer transactions.
In November, the Ethereum Foundation finally revealed its $970 million budget, detailing its spending plans for 2022 and 2024.
As of October 31, the Ethereum Foundation’s treasury had $970.2 million in assets. Of that, $788.7 million was in crypto assets, mostly ETH, representing 0.26% of the token’s total supply. The remaining $181.5 million was allocated by the Ethereum Foundation to non-crypto assets to diversify its portfolio and strengthen its financial stability.
According to Vitalik Buterin’s recent Reddit post, they plan to spend about 15% of the remaining funds each year. This means that the Ethereum Foundation could exist forever, but it will shrink in size (in terms of proportion to the entire ecosystem) over time.
Researcher Justin Drake estimates that the Ethereum Foundation spends $100 million annually, retains about $650 million in its main wallet, and has enough funds to cover 10 years, depending on the price of ETH.
