- The Ethereum Foundation has begun staking 70,000 ETH, with rewards going back to its treasury to generate on-chain yield.
- Ethereum co-founder Vitalik Buterin sold over 10,723 ETH in February after pledging to fund open-source projects.
- ethereum’s price has struggled below $2,000, dropping nearly 5% in 24 hours amid a broader crypto market decline.
The Ethereum Foundation announced on Tuesday that it has started staking Ethereum under a new treasury policy, with plans to stake a total of 70,000 ETH. This strategic pivot comes as Ethereum co-founder Vitalik Buterin has been offloading his own holdings to fund open-source projects.
Buterin has sold around 10,723 ETH since February 2, according to data from Onchain Lens. Consequently, Arkham Intelligence showed he sold nearly $2.5 million worth of Ethereum between Monday and Tuesday.
Meanwhile, the foundation’s first deposit of 2,016 ETH was made using open-source infrastructure tools, including Dirk and Vouch by Attestant IO. This setup is designed to balance operational resilience with decentralization goals.
Ethereum’s price has been under significant pressure, dropping nearly 5% in 24 hours to around $1,826. Retail sentiment on Stocktwits remained in ‘extremely bearish’ territory throughout the past day.
The slump coincides with a broader decline in the cryptocurrency market, with Bitcoin struggling to stay above $63,000. Consequently, Ethereum-linked equities like Bitmine Immersion Technologies (BMNR) and SharpLink Gaming (SBET) also slipped in pre-market trading.
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