According to a recent statement by Vitalik Buterin, he managed to convince the Ethereum Foundation to sell 70,000 ETH at the height of 2017’s parabolic run, resulting in a $100 million liquidity.
ETH is still the second-largest cryptocurrency by market cap. However, its price today is nowhere near what it used to be two years ago. Volatility has taken a hit and a break out seems all the less likely.
Ethereum Foundation Sold 70,000 ETH
But the Ethereum Foundation has had the financials already sorted. It so happens that co-founder Vitalik Buterin managed to convince the EF to sell up to 70,000 ETH when the coin peaked in late 2017 and early 2018.
This resulted in instant liquidity of around $100 million, assuming that they sold at the absolute peak when the price was flirting with the $1,400 mark. Buterin revealed this information in…