Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Key Points:

• Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO.
• Interchain Foundation’s crypto reserves are valued at $95.48 million.

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold this year, holding $95.48M in BTC and ETH reserves.

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos developer Interchain Foundation sold the 3,000 ETH it raised during its initial coin offering in April 2017. This is part of the broader strategy that has seen the foundation sell 21,600 ETH since late April 2023, raising approximately $55.97 million. With an average sale price of $2,591 for each ETH, the foundation has well-exploited market conditions, according to EmberCN.

This activity underlines the continuous efforts of the Interchain Foundation in managing its crypto assets while supporting its initiatives. Despite these sales, the foundation still holds considerable reserves, underlining its financial strength and strategic foresight in navigating the cryptocurrency market.

Read more: Cosmos Developers Cash Out $9.5M in ETH, Triggering Market Shifts

Interchain Foundation Holds $95.48M After Selling ICO ETH

Despite the recent sales, Interchain Foundation still has $95.48 million in crypto reserves, comprising 383.8 BTC and 23,587 ETH. These reserves emphasize the foundation’s very good financial health for undergirding resources toward its future projects and operational goals. It positions itself as a well-capitalized player in the crypto space.

The foundation’s decision to sell 21,600 ETH since April this year demonstrates a prudent strategy of reaping value from its ICO proceeds. This continued asset management testifies to a balance between liquidating for operational needs and retaining substantial reserves for long-term stability.