Oh, dear me! The Ethereum Foundation is getting a right roasting for their incessant ETH sell-offs, and just when you thought it couldn’t get any worse, one of their employees stepped up with a defense that was about as useful as a chocolate teapot! 🍫☕
2025 has kicked off with a bang, but not for Ethereum (ETH)! While Bitcoin (BTC) and its flashy altcoin friends are off frolicking in the fields of new all-time highs, Ethereum seems to be stuck in a quagmire of its own making. Starting the year at a cozy $2,350, it did a little jig up to $4,000 by December, only to crash down again like a clumsy elephant on roller skates. And let’s not even talk about how far it is from its 2021 high of $4,878—investors are not amused! 😬
What’s the problem, you ask? Well, it seems Ethereum isn’t quite the belle of the ball when it comes to retail hype. While Solana (SOL) is making headlines and raking in the dough with its trendy crypto mobile phone and meme coins launched by none other than President-elect Donald Trump (yes, you heard that right!), Ethereum is left twiddling its thumbs. 🤷♂️
Yes, yes, Ethereum is busy trying to fix its fundamental issues—like a kid trying to fix a flat bicycle tire with a spoon—by rolling out major upgrades and layer-2 solutions. But alas, the everyday retail investors are yawning in boredom. 🥱
Wrong place, wrong time
Enter the Ethereum Foundation, a non-profit with good intentions but a knack for making questionable decisions. Their constant ETH sell-offs to cover expenses have raised eyebrows and a few chuckles from their loyal supporters. What a delightful mess! 🤦♂️
[ATTENTION] The Ethereum Foundation just sold another 100 $ETH for 336,475 $DAI!
In total, they have sold 200 $ETH ($672K) in 2025 at an average price of $3,361 over the past 12 days. $ETH remains 31% below its 2021 ATH of $4,878, while $BTC has hit a new ATH of $109K today!…
— Spot On Chain (@spotonchain) January 20, 2025
Just on January 20, they swapped 100 ETH for 336,500 DAI. According to SpotOnChain, they’ve offloaded over $670,000 worth of ETH in less than three weeks. Quite the fire sale, eh? 🔥
But the plot thickens! Just as the community was getting riled up over some rather unfortunate comments from Josh Stark, a big cheese in the Ethereum world, he decided to defend the Foundation’s antics by saying they’re “actively using ETH.” Oh, really? Are they using it to buy ice cream? 🍦
the EF uses Ethereum all the time, for instance to (1) swap ETH for stables (usually @CoWSwap) and (2) to pay people (grantees, team members) in stables and ETH, on mainnet and L2s. Events we run (like Devcon and Devconnect) take onchain payments and use onchain ID for tickets.
— Josh Stark (@0xstark) January 20, 2025
But wait! The community was not having it. User @WazzCrypto shot back with, “Highly advise against saying you use Ethereum to dump $ETH. Was that really the first use case that came to your mind? I can’t even right now.” And another user, @VelvetMilkman, chimed in: “This is hardly ‘using the chain’ to understand how most people use the chain. Your only use cases are selling ETH, for crying out loud!” 😂
Their brains actually do not work at all.
The fuck you need 300K for so urgently?
What could you POSSIBLY, as the ETHEREUM FOUNDATION, when the entire world is watching, need 300K OF A PUBLIC SELL ORDER for?
Mindless cockroaches.
Retar Dio.
— ً (@trading_axe) January 20, 2025
Despite the uproar, the Foundation went ahead with another 100 ETH sell-off, making things even stickier. User @trading_axe didn’t hold back: “Their brains actually do not work at all. What could you POSSIBLY need 300K for so urgently?” A question for the ages! 🤔
Foundation explores staking
This ongoing debacle highlights a larger issue for Ethereum in 2025. While competitors are thriving by riding the retail FOMO wave, Ethereum seems to be stuck in the mud, focusing on scalability through layer-2 networks. Will it ever be enough to lure in the retail investors? Only time will tell! ⏳
And just when you thought it couldn’t get any more exciting, Ethereum’s co-founder, Vitalik Buterin, has taken notice! He revealed that the Foundation has been toying with the idea of staking their assets instead of selling them. How novel! 🧐
The concerns historically were (1) regulatory, (2) if EF stakes ourselves, this de-facto forces us to take a position on any future contentious hard fork.
(1) is less than before, (2) remains. There’s definitely ways to minimize (2), and we’re recently been exploring them.
— vitalik.eth (@VitalikButerin) January 20, 2025
But alas, despite the focus on scaling solutions, everyday investors remain unimpressed. The Foundation’s constant ETH sell-offs aren’t winning any popularity contests either. Meanwhile, competitors are zooming ahead, leaving Ethereum in the dust. If the network wants to stay in the limelight, it certainly has a bumpy road ahead! 🚧
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2025-01-20 19:33