Brains Not Working? Ethereum Foundation Under Fire For Repeated ETH Sell-Offs
22 Gennaio 2025 - 2:00AM
NEWSBTC
Ethereum is off to a rocky start this 2025, and its vibrant dev
community isn’t happy. According to reports, the Ethereum
Foundation has recently moved a substantial amount of Ether. The
foundation’s transactions to move and sell its tokens became
messier when one of its employees attempted to explain the
situation, generating a lot of backlash. Related Reading: $24 XRP
Prediction: Bitcoin Maxi Calls It Risky But Possible Ethereum’s
recent transactions have occurred since Bitcoin and other top
tokens have been ripping through the charts. Price-wise, Ethereum
is trading between $3,200 and $3,384, which is too far from 2021’s
high of $4,870. What’s Up, Ethereum Foundation? The Ethereum
Foundation, the primary organization supporting the development of
the blockchain, is not helping the cause. Regardless of its
intention or the overriding objectives for unloading massive ETH
tranches, these moves still leave a bad taste in the mouths of most
holders and supporters. According to a recent post by Spot On Chain
on Twitter/X, the foundation has recently moved another 100 ETH in
exchange for 336,475 DAI. According to the account, the foundation
sold 200 ETH tokens for $67k in the first few days of 2025 at an
average cost of $3,361. The account added that ETH is 31% below its
2021 high of $4,878, while Bitcoin continues to retest its highs
and currently breached the $109k level. [ATTENTION] The Ethereum
Foundation just sold another 100 $ETH for 336,475 $DAI! In total,
they have sold 200 $ETH ($672K) in 2025 at an average price of
$3,361 over the past 12 days.$ETH remains 31% below its 2021 ATH of
$4,878, while $BTC has hit a new ATH of $109K today!…
https://t.co/9CWWVsrfhj pic.twitter.com/ZOr504i1HG — Spot On Chain
(@spotonchain) January 20, 2025 Ether Supporter’s Comments Draw
Negative Feedback The foundation’s latest transaction, the sale of
100 tokens, came after Josh Stark’s comments came to light. Stark,
a popular ETH supporter, defended the foundation’s decision to sell
these ETH tokens, arguing that they’re still actively using the
blockchain’s native token. the EF uses Ethereum all the time, for
instance to (1) swap ETH for stables (usually @CoWSwap) and (2) to
pay people (grantees, team members) in stables and ETH, on mainnet
and L2s. Events we run (like Devcon and Devconnect) take onchain
payments and use onchain ID for tickets. — Josh Stark (@0xstark)
January 20, 2025 In a Twitter/X posting, Stark explained that the
foundation uses its tokens every time. These tokens buy
stablecoins, pay their people in stablecoins, and support the
blockchain’s events. Stark’s comments didn’t sit well with some
crypto observers and commentators. Twitter/X user WazzCrypto hit
Stark for using ETH “dump” as an explanation to support the
foundation’s transactions. User @VelvetMilkman was disappointed
with Stark, arguing that it’s a lame excuse for using the altcoins.
Meanwhile, X user Trading_Axe has a more scathing, and no holds
barred take on the issue: Their brains actually do not work at all.
The fuck you need 300K for so urgently? What could you POSSIBLY, as
the ETHEREUM FOUNDATION, when the entire world is watching, need
300K OF A PUBLIC SELL ORDER for? Mindless cockroaches. Retar Dio. —
ً (@trading_axe) January 20, 2025 Related Reading: Trump Son Drops
Hints About Major World Liberty Plans After Massive Ether Buy
Buterin Sets The Record Straight For ETH Many critics say Ethereum
is losing ground against other blockchains, particularly Solana. As
such, many recommend that Ethereum stake its tokens instead of
selling them to generate yields. The increasing number of comments
and criticisms against the foundation has caught the attention of
Vitalik Buterin, Ethereum’s co-founder. Buterin said the team has
also explored many options, including staking their tokens.
However, regulatory issues and potential problems with the hard
fork prevented them from doing so. Although there’s a friendly
regulatory environment right now, the risks associated with staking
remain high. Featured image from ETF Stream, chart from TradingView
Grafico Azioni Solana (COIN:SOLUSD)
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Grafico Azioni Solana (COIN:SOLUSD)
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Da Gen 2024 a Gen 2025