Ethereum Foundation confirms it sold 10,000 ETH via direct (OTC) sale to BitMine as treasury management activity under high market sensitivity. The following announcement states that the ETH was sold at an average unit price of $2,387. Sale proceeds go towards core operational activities, such as protocol development, network expansion and community grants, three of the cornerstones vital to the continued success of Ethereum. This decision embodies a blueprint for treasury management, wherein large holders can liquidate assets via OTC channels to avoid inducing immediate sell pressure upon public exchanges, thereby attempting to support price stability. In addition, the move
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