The development team of the Ethereum Foundation has made an internal transfer of 1,000 ETH worth 3.6 million USD to the EF2 address, raising the total ETH here to 8,000 ETH.
This ETH transfer activity is closely monitored by Paidun and shows the Ethereum Fund's cryptocurrency asset management strategy aimed at optimizing resource efficiency.
MAIN CONTENT
The Ethereum Foundation conducted an internal transfer of 1,000 ETH worth 3.6 million USD.
The EF2 address is currently holding 8,000 ETH, equivalent to 29 million USD.
The ETH transfer reflects the effective asset management of the Ethereum development team.
How much internal ETH has the Ethereum Foundation transferred and what is the purpose?
Accurate information shows that the development team of the Ethereum Foundation has just transferred 1,000 ETH worth approximately 3.6 million USD to the EF2 address for focused asset management. This is a professional step aimed at optimizing capital and enhancing security.
According to monitoring data from Paidun updated on July 18, 2024, this internal transfer reinforces the position of the EF2 address, which is currently holding 8,000 ETH equivalent to 29 million USD. By managing resources centrally, the Ethereum Foundation can flexibly implement projects or develop cryptocurrency technology while ensuring the safety of this significant capital.
What role does the EF2 address play in the Ethereum ecosystem?
The EF2 address is an important internal wallet of the Ethereum Foundation, used to store and manage the majority of ETH assets for long-term development activities. According to Ethereum Foundation leaders, maintaining and governing cryptocurrency assets in a centralized manner at the EF2 address helps ensure security and transparency.
The EF2 address is currently the strategic asset management center, helping the Fund to proactively coordinate capital resources for the Ethereum platform more effectively.
CEO Ethereum Foundation's wallet, statement in July 2024
The EF2 wallet not only serves as a storage of assets but also supports Smart Contract development activities, supports the DApp ecosystem on Ethereum, and operates network upgrade projects according to the 2024-2025 Roadmap.
How has the total value of ETH at the EF2 address changed over time?
Through reports and on-chain monitoring, the EF2 address maintains a total of 8,000 ETH, equivalent to 29 million USD, providing the Ethereum Fund with a strong reserve to execute development plans.
Number of ETH at EF2 Equivalent value (USD) 2023 6,000 ETH 21 million USD Mid 2024 8,000 ETH 29 million USD
This data reflects significant growth in ETH reserves in the EF2 wallet, reflecting the effort to expand the development fund and prepare resources for the long term of the Ethereum Foundation.
Frequently asked questions
What does the Ethereum Foundation use ETH in the EF2 address for?
ETH in EF2 is used to fund Blockchain infrastructure development, support Smart Contract projects, and invest in Ethereum upgrade technology, ensuring the sustainable development of the network.
Does internal ETH transfer affect the market?
Internal ETH transfers do not change the overall supply in the market, as these are transactions between wallets of the same organization, thus not impacting the price or overall liquidity.
Who monitors the transactions of the Ethereum Foundation?
Transactions are monitored by reputable on-chain analysis tools like Paidun, ensuring transparency and timely reporting to the community and investors.
Is the EF2 address a cold wallet?
The EF2 wallet is considered a secure wallet, similar to a cold wallet but may have more flexible management capabilities to serve development activities, with security prioritized.
Is there any risk to storing ETH centrally?
Despite the risk of centralization, the Ethereum Foundation implements advanced security measures, including multi-signature processes and strict access control to mitigate security risks.
Source: https://tintucbitcoin.com/ethereum-foundation-chuyen-1-000-eth-moi-2/
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