Ethereum: $300M in non-crypto assets and here’s why you should give an “EF”
It’s that time of year when you squint at your receipts and tax forms to better understand your financial habits. If that sounds daunting, you can rest assured that even those who run crypto projects are doing something along similar lines.
To that end, when the Ethereum Foundation published its yearly report, a lot of traders – ETH and otherwise – were interested in the parts dealing with the foundation’s treasury.
Here’s what you need to know.
The Ethereum Foundation’s report stated that as of the end of March 2022, its treasury contained $1.6 billion, with $1.3 billion of it held in crypto while $300 million was held in non-crypto investments and assets.
About the asset breakdown, the report further stated,
“The vast majority (99.1%) of our crypto holdings are held in ETH. This ETH represents 0.297% of the total ETH supply on March 31 2022.”
Source: Ethereum Foundation
About its non-crypto assets, the Ethereum Foundation explained this was to balance out “rising ETH prices” and market downturns.
Well, Ether at the time of this press was trading at $3,046, up by 4.41% over the last day. And, 1.01% in the past seven days.
Despite the price appreciation, what was stark was a nearly vertical fall in development activity that started on 18 April. This was in spite of average gas fees falling to 32.93 gwei on 17 April.
Source: Santiment
Naturally, you’d expect investment sentiments to be down in the dumps. Yet, the opposite happened as Santiment data showed that weighted sentiment was in positive territory.
This was a first for the month of April. The weighed sentiment was recorded at 0.601, despite widespread disappointment regarding the delay of the Merge and Ethereum’s TVL falling to $114.22 billion.
Source: Santiment
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