Ethereum Foundation's Aggressive Selling Sparks Market Concerns

The Ethereum Foundation's recent selling spree has raised eyebrows in the crypto community. According to reports, the foundation has been offloading ETH to Tom Lee's Bitmine (BMNR), with a total of $33.51 million sold so far.

Despite this significant selloff, Bitmine has continued to aggressively buy up ETH, purchasing another 101,901 tokens worth $236 million last week. This brings its total holdings to 5,078,386 ETH, valued at approximately $11.76 billion.

The Ethereum Foundation still holds a substantial amount of ETH, with $214.8 million remaining in its treasury. If the foundation continues to sell at this rate, it would deplete its entire ETH holding by 2027, according to an analysis by Arkham.