Argot Collective, a nonprofit supported by the Ethereum Foundation, has recently executed large-scale ETH sale transactions.
From July 11 to 18, 2024, Argot Collective exchanged a total of over 4,200 ETH for USDC, equivalent to more than 13 million USD, demonstrating a flexible strategy in utilizing the operating funds from the Ethereum Foundation.
MAIN CONTENT
Argot Collective received 7,000 ETH from the Ethereum Foundation for development.
More than 4,200 ETH have been sold, exchanging for about 13.26 million USD through multiple transactions.
The average selling price reached 3,138 USD/ETH, reflecting effective fund management.
What kind of organization is Argot Collective and how is the funding from the Ethereum Foundation structured?
Argot Collective is a nonprofit organization specializing in project development, receiving funding of 7,000 ETH from the Ethereum Foundation to support operations and platform development.
The announcement of support from the Ethereum Foundation demonstrates confidence in the capabilities and influence of Argot Collective in the blockchain and cryptocurrency space.
How has Argot Collective conducted large ETH transactions recently?
In one week, from July 11 to 18, 2024, the organization executed multiple ETH sales totaling 4,226.6 ETH, exchanged for USDC with an estimated value of 13.26 million USD.
Just 5 hours before the report, a sale order of 600 ETH equivalent to 2.06 million USDC was executed, demonstrating the organization's flexible fund operation capabilities.
Managing and liquidating ETH according to financial plans is evidence of Argot Collective's solid financial strategy in the volatile cryptocurrency environment.
Mr. Michael Lee, Chief Financial Officer of Argot Collective, July 18, 2024
What does the average selling price of ETH in transactions indicate about the market?
The average selling price of ETH transactions reached 3,138 USD/ETH, showing that Argot Collective took advantage of favorable prices during a stable market phase.
Compared to ETH prices fluctuating around 3,000 USD in July 2024, this figure reflects a controlled and effective selling strategy, minimizing risks from price volatility.
What are the benefits of converting ETH to USDC for Argot Collective?
Converting ETH to USDC helps Argot Collective ensure liquidity and financial stability for project development activities, avoiding the impact of strong price fluctuations in the cryptocurrency market.
USDC is a widely used stablecoin that maintains a value close to USD, helping the organization maintain a stable capital base and manage cash flow easily.
Frequently Asked Questions
What does Argot Collective use the ETH it receives in funding for?
Argot Collective uses ETH to cover development, operational, and project research costs, according to the plans funded by the Ethereum Foundation.
Why does Argot Collective sell ETH to exchange for USDC?
Selling ETH for USDC helps maintain stable capital, reduce price volatility risk, and facilitate financial management for the organization.
What does the average selling price of ETH at 3,138 USD mean?
This figure shows that the organization took advantage of a stable market to sell ETH at reasonable prices, effectively protecting capital value.
How does the Ethereum Foundation influence Argot Collective?
The Ethereum Foundation provides critical funding that helps Argot Collective develop projects related to Ethereum and Blockchain.
What is USDC and why was it chosen?
USDC is a USD-pegged stablecoin, chosen for its stability, high liquidity, and convenience for transactions and organizational cash flow management.
Source: https://tintucbitcoin.com/argot-collective-ban-600-eth-sau-5-gio/
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