$ETH
💰My take on the latest Ethereum development:👀
The Ethereum Foundation has sold 5,000 ETH in an over-the-counter deal worth around $10 million to BitMine.
According to the Foundation, the sale is meant to help fund its core operations and ongoing development of the Ethereum ecosystem. While foundation sales sometimes spark concern in the market, this appears to be more of a strategic treasury move rather than a bearish signal.
What’s interesting is that this purchase further strengthens BitMine’s massive Ethereum exposure, bringing its holdings close to 4.5 million ETH.
In my view, deals like this show that institutional players are still accumulating Ethereum at scale, even when the supply is coming directly from ecosystem entities.
The bigger question now is whether this type of OTC demand continues to absorb supply quietly while the market consolidates
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