Ethereum Foundation sells another 10,000 ETH to BitMine in third OTC deal

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Ethereum Foundation sells 10,000 ETH. Source: Ethereum Foundation The move also comes after the foundation unstaked 17,035 ETH worth roughly $40 million last week, apparently dropping its stated goal of 70,000 staked ETH. Related: These 3 Ethereum metrics favor an ETH price rally to $6K The repeated sales have drawn criticism from the community. “Why do you need $46 million in 2 weeks?! How much are you guys burning and what for? Why is no one from the devs taking ETH directly as payment?!” one user wrote in response to the announcement. The Foundation has faced scrutiny over its ETH sales before, and at one point last year said it planned to limit them. It has since moved to offset some of that pressure by staking a portion of its holdings. ETH is currently trading at around $2,303, largely flat over the past day, according to data from CoinMarketCap. However, the token is down by more than 53% compared to its all-time high of $4,953 registered in August last year. Related: Ether treasuries need liquid staking edge to beat ETFs, says Lido exec BitMine, chaired by Tom Lee, is the largest Ethereum treasury company by holdings, with nearly 5 million ETH on its books. The milestone was reached after the firm added 101,901 ETH in its biggest weekly purchase of the year. The company has also been aggressively staking its holdings, with 83% of its cumulative ETH, around 4.19 million coins worth roughly $9.5 billion, now staked as of Thursday, up from about 70% the previous week. Magazine: Your guide to surviving this mini-crypto winter

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