Ethereum Foundation is doing this instead of selling ETH: A $130 Million Move! - Koin Bulletin

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The Ethereum Foundation transferred 50,000 ETH to its multi-signature wallet to participate in DeFi decentralized finance protocols instead of sales.

On February 9th, the Ethereum Foundation transferred 50,000 ETH worth of $131.66 million to a multi-signature wallet used to participate in the DeFi ecosystem. This move is seen as part of the foundation's new strategy that aims to generate returns from DeFi protocols instead of selling.

Instead of selling Ethereum, Vitalik Buterin's new strategy

Recently, the ETH sales conducted by the Ethereum Foundation have been met with community backlash. In response to these reactions, Ethereum founder Vitalik Buterin made statements about the foundation's financial management strategy. The community advocated for the foundation to evaluate its assets through DeFi protocols instead of selling them.

Sending the recently transferred ETH to a wallet that has interacted with DeFi protocols such as AAVE indicates that the foundation is accelerating its steps in this direction. In the coming period, it is expected that the Ethereum Foundation will increase its effectiveness in the DeFi ecosystem with similar moves.

By the way, it is known that the Ethereum Foundation previously made a similar move as part of its strategy to increase its participation in the DeFi ecosystem. It was stated that the Foundation transferred 50,000 ETH to its multi-signature wallet to participate in DeFi protocols instead of selling.

According to CoinGecko data, Ethereum has shown a %1 decrease in the last 24 hours and is currently at $2,637 at the time of writing the news.

ETH-3.26%
ART-5.96%
DEFI-5.67%
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