The Ethereum Foundation has completed a deal to sell 10,000 ETH through OTC trading at an average price of about 2,572 USD/ETH last week.
This transaction was carried out with partner SharpLink Gaming, a listed company, to optimize the sale of Tokens without causing market fluctuations.
MAIN CONTENT
The Ethereum Foundation sold 10,000 ETH through the OTC channel at an average price of 2,572 USD/ETH.
The trading partner is the company SharpLink Gaming, which has been listed on the market.
The OTC selling method helps minimize the impact on the cryptocurrency market price.
What are the reasons the Ethereum Foundation chose OTC trading to sell ETH?
According to official information from the Ethereum Foundation, trading through OTC helps them sell large volumes of ETH without putting pressure on the spot market.
The OTC (Over-the-Counter) method allows direct trading between parties, minimizing price volatility risks and avoiding the common price drop phenomenon when selling large volumes on centralized exchanges.
What role does SharpLink Gaming play in this deal?
SharpLink Gaming is a well-known listed company in the technology and digital entertainment industry; they have taken on the role of purchasing 10,000 ETH from the Ethereum Foundation.
The involvement of a publicly traded company like SharpLink Gaming demonstrates a level of transparency and professionalism in trading, while enhancing the reputation of the Ethereum Foundation in the financial market.
Choosing SharpLink Gaming helps the Ethereum Foundation protect asset value and maintain stability in the cryptocurrency market at a crucial time.
Mr. Vitalik Buterin, Co-founder of Ethereum, 2024
What does the average ETH price in this transaction reflect in the market?
The Ethereum Foundation sold ETH at an average price of about 2,572 USD per Token, a price that reflects the cryptocurrency market being in a stable state at the time of the transaction.
The average selling price is reasonably priced based on recent ETH price fluctuations, while also showing efforts to avoid negative impacts on investor sentiment when a large quantity of Tokens is released.
Analyze the benefits of selling ETH through OTC trading for the Blockchain development fund
OTC trading allows the Ethereum Foundation to preserve capital and reinvest in stronger Blockchain infrastructure development projects without causing unexpected market price fluctuations.
According to a Coin Metrics report in 2023, blockchain foundation funds use OTC trading to balance liquidity and maintain long-term stability.
OTC transactions are an effective solution for large organizations to maintain liquidity without negatively impacting the cryptocurrency market price.
Former Blockchain Investment Analysis Director, 2023
Frequently Asked Questions
What is OTC trading and why is it important for large organizations? OTC is a direct transaction between two parties, allowing large organizations to sell substantial amounts of assets without causing market price fluctuations. Why did the Ethereum Foundation choose SharpLink Gaming as a partner to buy ETH? SharpLink Gaming is a reputable listed company that ensures transparency and professionalism in trading. Is the average selling price of 2,572 USD for ETH a good price? This price reflects a stable and reasonable market aimed at optimizing profits and minimizing price impact. Does this transaction affect the price of ETH on exchanges? OTC trading helps to minimize the impact on the price of ETH in the spot market. What are the long-term benefits of OTC trading for Blockchain funds? OTC helps funds maintain liquidity, stabilize prices, and focus on developing sustainable Blockchain technology.
Source: https://tintucbitcoin.com/ethereum-sharplink-gaming-mua-10-000-eth/
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