CryptoRuner

🚨 ICYMI: Ethereum Foundation Sells Another 10,000 ETH to Bitmine! The Ethereum Foundation (EF) has just completed its third major over-the-counter (OTC) sale to BitMine Immersion Technologies, offloading another 10,000 $ETH (approx. $23 Million). This marks the second time in just one week that the Foundation has moved a massive tranche to Bitmine, bringing the total sold to them this week alone to $47 Million. 📉 The Breakdown: Amount: 10,000 ETH Value: ~$23 Million USD Average Price: $2,292 per ETH Counterparty: BitMine (Chaired by Tom Lee) Total Weekly Sales: 20,000 ETH (~$47 Million) 💡 Why is this happening? The Ethereum Foundation stated that these funds are essential for core operations, including: Protocol Research & Development (R&D) Ecosystem development and community grants Maintaining a fiat-based operating reserve 🐂 Bearish or Bullish? While "Foundation selling" often triggers fear, analysts note that these are OTC (Over-the-Counter) deals. This means the ETH isn't being dumped directly on open exchanges, which helps avoid immediate price crashes. Meanwhile, Bitmine has already staked over 4.19 million ETH, showing long-term confidence in the network. What’s your take? Is the EF preparing for a market shift, or is this just routine treasury management? 🧵👇 #EthereumFoundationSellsETHtoBitmineAgain #ETH #Ethereum #CryptoNews #BinanceSquare $ETH {spot}(ETHUSDT)