Argot Collective, a non-profit development organization, has sold over 4,800 ETH for 15.4 million USDC in nearly a week.
This activity is monitored by on-chain expert Ember, showing that Argot received 7,000 ETH from the Ethereum Fund and gradually sold ETH for USDC stablecoins to stabilize finances.
MAIN CONTENT
Argot Collective was granted 7,000 ETH from the Ethereum Fund for development activities.
The average selling price of ETH reached 3,194 USD for each ETH in the stablecoin conversion transaction.
What is Argot Collective and where does their funding come from?
Argot Collective is a non-profit organization operating in the Blockchain development sector, receiving 7,000 ETH from the Ethereum Fund to promote projects and the Ethereum community.
This is an important grant that reflects the trust of the Ethereum Fund in supporting projects that expand the ecosystem.
Why is Argot Collective converting ETH to stablecoin USDC?
The process of selling ETH by Argot aims to convert assets to stable USDC, helping to reduce price volatility risk and ensure cash flow for long-term development activities.
Selling at an average price can help Argot protect its capital against common cryptocurrency market fluctuations.
What is the total value and volume of ETH that Argot has sold?
As of now, Argot has sold a total of 4,826.6 ETH, raising 15.417 million USDC at an average price of 3,194 USD per ETH.
This activity took place over a period of 8 days, from July 11 to the reporting date (July 19), creating a stable capital source for the organization.
"Converting assets from ETH to stablecoins helps Argot Collective manage risks and maintain the necessary capital to continue supporting development projects within the Ethereum ecosystem."
– Alex Johnson, Chief Financial Officer of Argot Collective, 2024
Frequently Asked Questions
What is the purpose of Argot Collective receiving ETH capital from the Ethereum Fund?
The funding of 7,000 ETH from the Ethereum Fund is intended for Argot to develop projects and support the Ethereum community.
What are the benefits of selling ETH for USDC for Argot Collective?
Helps the organization avoid ETH price volatility risk and maintain a stable financial source for long-term operations.
What is the volume of ETH sold in this round?
A total of 4,826.6 ETH was sold by Argot in exchange for 15.417 million USDC over nearly a week.
What is the average price at which each ETH is sold?
Reaching approximately 3,194 USD for each ETH, consistent with the market price at the time of transaction.
Who is this information monitored and verified by?
The data is analyzed and monitored by Ember – on-chain expert, ensuring accuracy and transparency.
Source: https://tintucbitcoin.com/argot-collective-ban-600-eth-trong-6-gio/
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