Justin Drake from the Ethereum Foundation recently shared in an AMA that the foundation’s financial report is forthcoming.
Currently, the foundation’s annual expenditure is around $100 million. With approximately $650 million held in ETH reserves and enough fiat reserves to sustain operations for about a decade, the foundation is well-positioned. However, this duration could vary with fluctuations in ETH prices.
Justin Drake of the Ethereum Foundation said in an AMA that the financial report will be released soon. The current annual expenditure is about $100 million. The foundation holds about $650 million in ETH reserves and enough fiat currency reserves to last for about 10 years, but…
— Wu Blockchain (@WuBlockchain) September 5, 2024
In recent transactions, the Ethereum Foundation sold an additional 100 ETH today for 241,207 DAI using the Cow Protocol, continuing its strategy of converting ETH to stablecoins.
🚨🚨 The #EthereumFoundation just sold another 100 $ETH for 241,207 $DAI via Cow Protocol again!
👉 More details about the Ethereum Foundation at: https://t.co/ixVMzEaHwz https://t.co/medhjapSQ4 pic.twitter.com/D8Dh9u8QUy
— Spot On Chain (@spotonchain) September 5, 2024
Ethereum remains a dominant force in the decentralized exchange (DEX) space. According to August data, Ethereum led the pack with a staggering $52.6 billion in DEX trading volume. Solana followed with $42.1 billion, while Arbitrum and BNB Chain recorded $22.3 billion and $20.6 billion, respectively. Other notable chains include Base at $16.7 billion, and Polygon and Tron with $3.9 billion and $3.2 billion, respectively.
Top 15 Сhains by DEX Trading Volume in August@ethereum $ETH – $52.6B@solana $SOL – $42.1B@arbitrum $ARB – $22.3B@BNBCHAIN $BNB – $20.6B@base – $16.7B@0xPolygon $MATIC – $3.90B@trondao $TRX – $3.20B@avax $AVAX – $2.79B@Optimism $OP – $2.38B@ton_blockchain $TON – $1.47B… pic.twitter.com/LYRo0Nftpp
— CryptoRank.io (@CryptoRank_io) September 5, 2024
Ethereum ETFs Recorded Notable Outflows
In contrast, Ethereum spot ETFs have faced substantial outflows. On September 4, Ethereum ETFs saw a net outflow of $37.51 million, with Grayscale’s ETHE experiencing a $40.63 million outflow. Despite this, the total net asset value of Ethereum spot ETFs stands at $6.73 billion, indicating continued investor interest despite recent sell-offs.
Ethereum spot ETF had a total net outflow of $37.5078 million on September 4, and Grayscale ETF ETHE had an outflow of $40.6275 million. Currently, the total net asset value of Ethereum spot ETF is $6.728 billion.https://t.co/Tvs2oCSxTg
— Wu Blockchain (@WuBlockchain) September 5, 2024
Overall, Ethereum’s leading position in the DEX market underscores its ongoing significance, even as it navigates fluctuations in ETF investment and broader market dynamics.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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