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The Ethereum ($ETH) Foundation has nearly completed its $ETH staking goal as of today.
According to the latest Arkham data, the Ethereum Foundation is very close to reaching its staking goal by staking an additional $93 million worth of Ethereum.
The Ethereum Foundation today staked approximately $93 million worth of ether ($ETH) in several stages, bringing its total staking volume to approximately 69,500.
He has almost reached his goal of staking 70,000 $ETH, which he announced in February.
With this move, the foundation states that it is ceasing to regularly sell $ETH to cover its annual expenses of approximately $100 million, and instead focusing on staking revenue, which is estimated to yield between $3.9 million and $5.4 million per year.
While this figure is modest compared to the foundation’s past annual operating expenses, which hovered around $100 million, it shows the foundation is trying to make better use of its idle treasury without selling $ETH.
Finally, the fact that the foundation has reached its announced staking target of 70,000 $ETH does not mean that the staking process is over.
The foundation still holds over 100,000 unstaked $ETH. It has not yet been announced whether more staking will take place or whether the remaining $ETH will be held as a liquid reserve.
*This is not investment advice.
coinedition.com
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